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Spirit Realty shareholders approve merger with Cole Credit Property Trust II

Spirit Realty Capital announced that its shareholders have approved the merger of Spirit Realty Capital with Cole Credit Property Trust. Approximately 86% of the outstanding shares of Spirit Realty Capital common stock voted with respect to the proposed merger and of those outstanding shares that voted, approximately 96% voted in favor of the merger. Assuming completion of the merger, the combined company will create one of the largest publicly traded triple-net-lease REITs in the United States. Upon closing of the transaction, Spirit Realty Capital shareholders will receive a fixed exchange ratio of 1.9048 shares of common stock of the combined company for each share of Spirit Realty Capital common stock owned. The closing of the merger is expected to be completed in Q3.