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Stock Market & Financial Investment News

News Breaks
May 20, 2014
06:39 EDTARCPAmerican Realty acquires Cole Credit Property Trust
American Realty Capital Properties announced that it completed its acquisition of Cole Credit Property Trust, or CCPT, the first non-traded REIT offered by Cole Capital, the private capital management business of ARCP. CCPT offered shares in a private offering that commenced in 2004, and CCPT remained in operation until the closing of the acquisition. The company's acquisition follows the successful completion of ARCP's tender offer for all of the outstanding shares of CCPT common stock for $7.25 per share, net to the seller in cash, without interest and less any applicable withholding taxes. When combined with the $5.57 per share average aggregate distributions received by CCPT stockholders through May 16, the $7.25 per share tender price equates to a total return of $12.82 per share, or an approximate premium of 28.2%. Pursuant to the Merger Agreement and in connection with the closing of the acquisition of CCPT, ARCP will pay $7.25, less any applicable withholding taxes, in respect of each outstanding share of CCPT, regardless of whether the holder of such shares tendered their shares in the Offer. Such consideration will total approximately $73.1M, exclusive of transaction and closing costs. Additionally, in connection with the closing of the acquisition, all holders of CCPT shares will receive unpaid distributions in the amount of 6c per share in respect of the period from April 1 through May 16.
News For ARCP From The Last 14 Days
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March 30, 2015
06:54 EDTARCPAmerican Realty announces Glenn Rufrano to become CEO on April 1
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06:52 EDTARCPAmerican Realty reports Q4 AFFO 22c, consensus 24c
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March 25, 2015
10:00 EDTARCPOn The Fly: Analyst Upgrade Summary
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08:39 EDTARCPAmerican Realty upgraded to Overweight from Equalweight at Capital One
March 19, 2015
10:42 EDTARCPOptions with decreasing implied volatility
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