Phoenix-based Cole Credit Property Trust III has an offer of $5.7 billion from American Realty Capital Properties, the Wall Street Journal reported. The bid puts a value on the REIT’s share price of at least $12; its current valuation is $10 a share, according to securities filings cited by the Journal. If the deal is successful, Cole’s value would rocket in value to more than $9 billion, American Realty said. [more] [more]![]()
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