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Cole Credit Property Trust has turned down a $5.7B acquisition offer from American Realty...

Cole Credit Property Trust has turned down a $5.7B acquisition offer from American Realty Capital Properties (ARCP), slating the proposal for being misleading and "deliberately designed to disrupt" Cole's business. The deal would create the biggest publicly traded REIT in the net lease sector, but Cole prefers to buy its external adviser, Cole Holdings, after which the plan is to go public.
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