Cole Credit to Review American Realty’s $6.7 Billion Buyout Bid
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Cole Credit Property Trust III said it would review a $6.7 billion offer from American Realty Capital Properties Inc. and meet with the company to discuss its proposal.
The Phoenix-based non-traded real estate investment trust still intends to buy the company that sponsors it, Cole Holdings Corp., with plans to go public after the merger, according to a statement today. American Realty yesterday bid $12.50 a share in cash or 0.80 a share of its common stock for each share of Cole Credit, raising an earlier offer.