Cox Capital Partners and Saba Capital Management Launch Unsolicited Minority Tender Offer for Blue Owl Capital Corporation II
March 13, 2026
Blue Owl Capital Corporation II (OBDC II) said its board unanimously recommends shareholders reject an unsolicited minority tender offer from Cox Capital Partners and Saba Capital Management for up to 8,000,000 shares at a price of about $30 million (under 7% of outstanding shares). The board argues the offer undervalues OBDC II by offering a discount of roughly 33.2% to net asset value (NAV) and would limit shareholders’ ability to receive future distributions and potential appreciation.
- Buyers
- Cox Capital Partners, Saba Capital Management, L.P.
- Targets
- Blue Owl Capital Corporation II (OBDC II)
- Industry
- Financial Services
- Location
- United States
- Transaction Type
- Growth capital
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