American Realty Capital Properties Inc., New York, has said it will increase the cash portion of
It is now willing to pay 60% in cash to acquire CCPT III, saying its proposal gives shareholders far greater price certainty with stock which is already publicly traded. The internalization transaction anticipates the combined entity becoming publicly traded.
Furthermore, ARCP said it was frustrated by the lack of “any real engagement” from CCPT III’s special committee to discuss its offer.
However, in reply, CCPT III said the chairman of its special committee held a lengthy conference call with ARCP’s chairman on March 27 and there were subsequent discussions among the financial advisors from both sides.
