Thursday, March 28, 2013
Moving Forward
Here is a Bloomberg article stating that Cole Credit Property Trust III (CCPT III) plans to review and meet with American Realty Capital Properties (ARCP) to discuss ARCP's latest offer. ARCP revised its offer for CCPT III yesterday, and upped its cash offer to $12.50 per share and guaranteed to pay at least $13.59 for each CCPT III share. ARCP's offer yesterday included a proposal to acquire Cole Holdings, which was not part of last week's original buyout offer.
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3 comments:
Is there any other reason other than the lack of Chris Cole foregoing his "internalization" fee payday, that Cole has not accepted the offer. It seems like a certain class action if he can not deliver as a high or higher of a return and soon to the investors. He is definitely between a rock and a hard place and their are a lot of people watching this whose opinions are changing or becoming emboldened regarding these 2 companies.
One has to wonder if upon Healthcare Trusts closing it will not make a similar offer for Griffin's Healthcare REIT.
Great question and great points. I have no idea to any of your questions. I'm afraid the lawyers will surface regardless of the outcome.
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