American Realty, Cole Shareholders OK $11B REIT Merger

Law360, New York (January 23, 2014, 9:09 PM EST) -- Shareholders of both American Realty Capital Properties Inc. and Cole Real Estate Investments Inc. approved an $11.2 billion merger, creating the world’s largest net-lease real estate investment trust at a value of $21.5 billion, according to regulatory filings on Thursday.

The companies said their respective boards have approved a cash-and-stock merger agreement from October whereby Cole will be absorbed into one of American Realty's wholly owned subsidiaries, notices filed with the U.S. Securities and Exchange Commission said. The merger is expected to close soon, according to...
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