This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Sandell Commends Improved ARCT-Realty Income Merger Terms

In response to American Realty Capital Trust (NASDAQ: ARCT) and Realty Income Corporation amending the terms of their merger agreement, Sandell Asset Management’s Chief Executive Officer Thomas E. Sandell sent today the following letter to American Realty Capital Trust’s Board of Directors:

Board of Directors
American Realty Capital Trust, Inc.
405 Park Avenue, 14th Floor
New York, NY 10022
Attn: William M. Kahane, Chief Executive Officer and President
 

Gentlemen:

We are encouraged by the announcement yesterday from American Realty Capital Trust (“ARCT”) and Realty Income Corporation of the amended terms of the merger agreement. Aside from the incremental merger consideration in the form of cash, we appreciate Realty Income’s intention to increase the dividend to its stockholders to an annualized rate of $2.17 per share as this narrows the significant gap that exists between the dividend ARCT stockholders currently receive on a standalone basis relative to the expected dividend based on the proposed pro forma ownership in Realty Income. We will continue to monitor the situation and evaluate our options.

Sincerely,

Thomas E. SandellChief Executive Officer



Copyright Business Wire 2010

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs