Tuesday, March 26, 2013
Cole Merger Article
Here is a good article from InvestmentNews on Cole Credit Property Trust III's decision to dismiss the American Realty Capital Properties (ARCP) buyout offer and maintain its intention to proceed with the internalization of its sponsor, Cole Holdings. The article was written before CCPT III's 8-K filing yesterday morning, which provided more detail on why it rejected ARCP's offer. After reading this article and yesterday's filing, I am still of the opinion that Cole needs to provide more information to investors before they can make an informed decision on the merger. Wait, I almost forgot, the Cole's proposed merger doesn't require a share holder vote. That's a shame.