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American Realty Capital Propert Message Board

  • rusty_wallace_fans rusty_wallace_fans Aug 16, 2013 10:37 AM Flag

    ARCT IV merger terms now that ARCP price has fallen significantly

    In early July, ARCP announced it is buying ARCT IV. Now that ARCP price has falling most of the time since then, what are the terms for owners of ARCT IV and what will it equte to in their current price. I thought there was a $31 price floor for ARCT IV owners but have not seen much about it in recent weeks. Do any of you experts know if ARCT IV owners get at least $31 in share equivalent from ARCP or if that conversion fell along with ARCP stock price? Thanks.

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    • The floor is $30, as shareholders will elect the cash over the stock. I wonder how this will effect their estimates? Less stock issued and more cash/debt into the deal?

      Per Bloomberg: "American Realty Capital Properties offered 2.05 of its shares or $30 in cash for each share of the other REIT, the New York-based companies said in a statement today. The stock offer is worth about $31 per share, based on the average share price for the five trading days through yesterday, they said."

      Sentiment: Strong Buy

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