Ten shares fell after the struggling broadcaster completed part of a $230 million capital raising.
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Ten shares fell after the struggling broadcaster completed part of a $230 million capital raising.
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In this Thursday, Sept. 22, 2011, photo, employees at Groupon pose in silhouette by the company logo in the lobby of the online coupon company's Chicago offices. Groupon Inc., the No. 1 online deals service, failed to show investors on Thursda, Nov. 8, 2012, that its business is growing as quickly as they would like, as it was hurt by what it called "continued challenges" from the economic weakness in Europe. (AP Photo/Charles Rex Arbogast)
News Summary: American Realty makes Cole bid
NEW YORK (
AP) — THE OFFER: American Realty Capital Properties Inc. is making a $5.74 billion cash-and-stock bid for
Cole Credit Property Trust III. American Realty puts the total value of the transaction at $9 billion, including debt.
BID DETAILS: American Realty said that it will currently pay at least $12 per share for Cole Credit's stock. Cole Credit stockholders could choose cash or 0.80 shares of American Realty for each share they own.
OTHER DEAL: American Realty believes its bid is a better deal than Cole Credit's plan to buy Cold Holdings Corp. American Realty said it is "prepared to consider all alternatives to complete this transaction."
Tags:
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