March 21, 2013
NEW YORK (AP) — American Realty Capital made a $5.74 billion cash-and-stock bid for Cole Credit Property Trust III on Wednesday after saying that it had not heard back from the fellow real estate investment fund about an earlier buyout offer.
American said that it was surprised there was no response when, earlier this month, Cole announced that it was acquiring external adviser Cole Holdings Corp. for $20 million in cash and approximately 10.7 million in stock.
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