Blue Owl Private Credit BDC Urges Rejecting Boaz Weinstein Offer

A Blue Owl Capital Inc. private credit fund is urging investors to reject a share purchase offer led by Boaz Weinstein’s Saba Capital Management, saying the price is too low.

The tender offer for Blue Owl Capital Corp. II, known as OBDC II, represents a 33% discount to its net asset value, the business development company’s directors said in a statement Friday.

Saba and Cox Capital Partners last month announced plans to buy shares in three of Blue Owl’s BDCs at a discount, betting that some investors would prefer immediate cash rather than remaining locked in vehicles whose ...