American Realty to buy Cole Real Estate for $11.2 billion
American Realty Capital Properties said it would buy Cole Real Estate Investments for $11.2 billion to create the largest net lease real estate investment trust.
American Realty said it would offer 1.0929 of its shares or $13.82 in cash for each Cole share.
The stock offer is valued at $14.59 per Cole share based on American Realty's closing price of $13.35 on Tuesday.
(Reporting by Mridhula Raghavan in Bangalore; Editing by Saumyadeb Chakrabarty)