Apr. 29, 2014, 7:05 AM
- Both companies bypass policy of not commenting on market rumors to issue press releases denying having discussions with each other.
- Up 7.3% yesterday on rumored buyout interest, NorthStar (NRF) is off 5.8% in premarket action. Down 3% yesterday, ARCP is up 1% premarket.
- Source (American Realty): Press Release
- Source (NorthStar): Press Release
- Previously: More on possible ARCP/NRF hookup
Apr. 28, 2014, 11:33 AM
- Fresh off its purchase of Cole Real Estate, American Realty Capital (ARCP -0.3%) is reportedly in talks to acquire NorthStar Realty Finance (NRF +9.8%), though sources remind the discussions are preliminary and a deal may not materialize.
- ARCP has a market cap of about $10B and NorthStar's would be $6.5B at the $20 per share takeover price being bandied about (25% above Friday's close).
- Previously: Takeover chatter for NorthStar Realty
Apr. 28, 2014, 10:09 AM
NRF vs. ETF Alternatives
Northstar Realty Finance Corpis a diversified commercial real estate company. Itinvests in multiple asset classes across commercial real estate that it expects will generate attractive risk-adjusted returns & may take the form of acquiring real estate.
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