Law360, New York (September 21, 2012, 8:46 PM ET) -- An American Realty Capital Trust Inc. shareholder on Thursday challenged the company's recent $2.95 billion deal to merge with Realty Income Corp., claiming in a putative class action that Realty Income had paid an unjustifiably low price for ARCT shares using its own overpriced stock.
The $12.21 that Realty Income agreed to effectively pay for each share of ARCT is “unfair and inadequate,” The Carol L. Possehl Living Trust argues in its complaint. The shareholder is suing five ARCT directors and executives in New York state...
American Realty Investor Calls Foul Over 'Unfair' $3B Merger
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