November 17, 2024 9:41 am
Facebook Twitter Youtube Instagram Linkedin
Rose Law Group

American Realty Capital to Buy Cole for $6.85 billion

American Realty Capital Properties Inc.By Jeffrey St.Onge & Kara Wetzel | Bloomberg

American Realty Capital Properties Inc. (ARCP) agreed to buy Cole Real Estate Investments Inc. for about $6.85 billion as it seeks to become the largest owner of U.S. single-tenant buildings.

American Realty would pay 1.0929 common shares valued at $14.59 for each Cole share or $13.82 in cash, the companies said in a statement today. The offer is 14 percent higher than Cole’s closing price yesterday. The merger has been approved by both companies’ boards, according to the statement.

The deal extends a string of acquisitions by New York-based American Realty, which earlier this year agreed to purchase CapLease Inc. (LSE) and American Realty Capital Trust IV Inc. to expand its holdings of mostly single-tenant retail, office and industrial properties. The real estate investment trust was rebuffed earlier this year in an effort to buy a predecessor company to Phoenix-based Cole.

Continued:

Share this!

Additional Articles
News Categories

Get Involved

Stay Informed

Get Our Twice Weekly Newsletter!

* indicates required

Rose Law Group pc values “outrageous client service.” We pride ourselves on hyper-responsiveness to our clients’ needs and an extraordinary record of success in achieving our clients’ goals. We know we get results and our list of outstanding clients speaks to the quality of our work.

learn more

Recent Articles

Post Calendar

Rose-Law-Group-RCF-Logo-FINAL-LG-png.png
Facebook Twitter Youtube Instagram Linkedin
© 2024 Rose Law Group Reporter

Rose Law Group Reporter, which provides Dealmaker’s content and service, is contracted by Rose Law Group. Rose Law Group is a full service real estate and business Law Firm practicing in the areas of land use/entitlements, real estate transactions, real estate due diligence/project management, special districts, tax law, water law, business litigation, corporate formation, intellectual property, asset protection, data breach/privacy law, ADA compliance, estate planning, family law, cyber-law, online reputation and defamation, lobbying, energy and renewable energy, tax credits/financing, employment law, Native American law, equine law, DUIs, and medical marijuana, among others. The views expressed above are not necessarily those of Rose Law Group pc or its associates and are in no way legal advice. This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.