American Realty Defends $5.7B Offer To Buy Out Cole REIT

Law360, New York (March 22, 2013, 2:29 PM EDT) -- New York-based real estate investment trust American Realty Capital Properties Inc. struck back at Cole Holdings Corp. after Cole spurned a $5.7 billion cash-and-stock buyout offer for a Cole-managed REIT on Thursday, releasing a "fact-checking" statement Friday detailing alleged misrepresentations by Cole.

Cole had argued that American Realty attempted to spring the offer on the real estate firm Tuesday, making its proposal public only 12 hours after sending the offer to Cole's board. American Realty disputed that statement Friday, saying that it had attempted to initiate...
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