American Realty to buy Cole Real Estate for $11.2 billion

Wed Oct 23, 2013 4:12pm IST

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Oct 23 (Reuters) - 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.