Deals
American Realty Capital Sues RCS Over $700 Million Deal
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American Realty Capital Properties, the biggest U.S. owner of single-tenant buildings, sued investment partner RCS Capital Corp., alleging it wrongly terminated an agreement to buy a business.
RCS agreed to buy American Realty’s private-capital management business, Cole Capital, for at least $700 million then reneged on the deal, the real estate investment trust said in a complaint filed yesterday in Delaware Chancery Court in Wilmington.