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American Realty (ARCP +0.4%) withdraws its $9.7B proposal to buy Cole Credit Property Trust III...

American Realty (ARCP +0.4%) withdraws its $9.7B proposal to buy Cole Credit Property Trust III after the latter twice rebuffed ARCP's approaches. That was despite the company raising its bid to $12.50/share in cash or $13.59 in stock from $12 in cash or stock. ARCP is also backing out after Cole Credit completed a merger with its external adviser, Cole Holdings. (PR)
Comments (4)
  • jpm1jr
    , contributor
    Comments (50) | Send Message
     
    Good news for ARCP shareholders
    11 Apr 2013, 10:12 AM Reply Like
  • davidingeorgia
    , contributor
    Comments (2713) | Send Message
     
    That's gonna leave a big, ugly bruise on someone's ego. :-)
    11 Apr 2013, 11:06 AM Reply Like
  • Kraken
    , contributor
    Comments (542) | Send Message
     
    Good...now I hope ARCP's management can focus on the company instead of buying everything they see.
    11 Apr 2013, 12:35 PM Reply Like
  • ganooze
    , contributor
    Comments (49) | Send Message
     
    Scary to think their leadership pursued this as long as they did. Hope they don't come across any iceburgs that rely on their leaders to steer around in the future.
    13 Apr 2013, 10:05 PM Reply Like
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