Real Estate M&A » By The Online Investor Staff, updated Fri., Apr. 19, 5:56 AM
Recent mergers and acquisitions in the Real Estate M&A category.
| This Slide: #78 of 91 |
Slide #78. American Realty Capital Properties, Inc. — American Realty Capital Trust III, Inc.
Acquirer:
American Realty Capital Properties, Inc. (ARCP)
Acquiree:
American Realty Capital Trust III, Inc.
Details:
American Realty Capital Properties, Inc. and American Realty Capital Trust III, Inc. ("ARCT III") announced today that they have signed a definitive merger agreement under which ARCP will acquire all of the outstanding shares of ARCT III in a transaction that would result in a combined company with $3.0 billion of enterprise value. This will increase ARCP's enterprise value tenfold. Both companies' independent directors unanimously approved the merger agreement. The merger agreement is subject to customary closing conditions, including a stockholder vote by both companies, and the transaction is expected to close during the second quarter of 2013. Stockholders of record for each company as of December 17, 2012 will be entitled to consider and vote on the proposal to approve the merger and the other transactions contemplated by the merger agreement.
VEREIT is a real estate investment trust. Co. is a real estate company that acquires, owns and operates single-tenant, free-standing commercial real estate properties. Co. focuses on investing in properties that are net leased to credit tenants, which are generally public companies, and governmental, quasi-governmental and not-for-profit entities. Co. is also engaged in the private capital management (PCM) business. The PCM business sponsors and manages direct investment programs. As of Dec 31 2013, Co. owned 3,710 properties, comprised of 101,500,000 square feet and located in 48 states, the District of Columbia, and Puerto Rico.
Preferred: ARCPP
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