American Realty Capital Properties, Inc. (ARCP) said Tuesday that it has sent another letter to the Cole Credit Property Trust III, Inc. board of directors which could increase the cash portion of its acquisition offer up to 60%, calling on the board to act now on American Realty Capital's offer to acquire 100% of the outstanding common stock of Cole Credit Property for either a minimum of at least $13.59 per share in stock, or $12.50 per share in cash.
At maximum cash consideration, the deal would result in American Realty Capital stockholders owning 60% of the combined company.
American Realty Capital expressed frustration at the lack of any real engagement by Cole Credit Property's special committee, despite the committee's promise to its stockholders it would do so.
American Realty Capital further questioned whether the committee was more interested in the "consummation of an insider deal that prioritizes and monetarily benefits Cole Holdings and its management over the interests of, and at the expense of, American Realty Capital's stockholders."
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.