M&A · Financials · Real Estate Investment Trusts
Global Net Lease, Inc. to acquire Modiv Industrial, Inc.
Announced May 4, 2026 · Closed Aug 12, 2026
Deal value$535MEV $535M
Premium28.0%To unaffected price
EV / Adj. EBITDA15.8x11.5x EV / Revenue
ConsiderationAll stock$18.82 per share
Transaction
- Acquirer
- Global Net Lease, Inc. (GNL)
- Target
- Modiv Industrial, Inc. (MDV)
- Buyer type
- Strategic
- Offer price per share
- $18.82
- Enterprise value
- $535M
- Status
- Closed Aug 12, 2026
Deal protections
- Break fee (target pays)
- $10.0M · 1.9%
- Reverse fee (buyer pays)
- —
- Go-shop
- —
- Financing
- No financing condition
Advisors
- To the acquirer
- BMO Capital Markets
- To the target
- Truist Securities
Sector context · Financials
- Comparable deals
- 73 in the prior 24 months
- Premium
- 28.0% vs. 37.0% sector median
- EV / Adj. EBITDA
- 15.8x vs. 13.6x sector median
- Break fee
- 1.9% vs. 3.7% sector median
Timeline
- AnnouncedMay 4, 2026
- Proxy filedJun 24, 2026
- Definitive proxyJun 24, 2026
- Shareholder voteAug 10, 2026
- ClosedAug 12, 2026