Blackwells Mails Definitive Proxy Statement Nominating Four New Directors for Election at Monmouth’s 2021 Annual Meeting
Blackwells Capital LLC, an alternative investment management firm that together with its affiliates (collectively, “Blackwells”) owns more than 4% of the outstanding shares of common stock of Monmouth Real Estate Investment Corporation (NYSE: MNR) (“Monmouth” or the “Company”) has mailed its definitive proxy materials and a letter in connection with Monmouth’s 2021 Annual Meeting of Stockholders ("Annual Meeting").
On May 4, 2021, the Board of Directors (the “Board”) of Monmouth announced that it had entered into an all-stock merger agreement with Equity Commonwealth (“EQC”), an office REIT without any experience managing Monmouth’s industrial real estate assets.
The proposed EQC transaction substantially undervalues Monmouth’s shares, particularly because the industrial REIT sector has been undergoing a significant re-rating since Blackwells’ initiated this campaign in December.
Having nominated four eminently skilled director candidates for election to the Board at the Annual Meeting, shareholders will soon have the opportunity to vote this abusive transaction down.
Blackwells urges other stockholders to carefully consider the information contained in our Proxy Statement and Letter and to support our efforts by signing, dating and returning the GREEN Proxy Card
Press releases, significant correspondence between Blackwells and Monmouth, and presentations
OUR DIRECTOR NOMINEES
Background information on Blackwells' four eminently skilled director candidates, who are independent of the Landy family