Former United States Securities and Exchange Commission attorney Willie Briscoe and the securities litigation firm of Powers Taylor LLP are investigating the acquisition of Cole Real Estate Investments, Inc. (“Cole”) (NYSE: COLE) by American Realty Capital Properties (“ARCP”) for shareholders. Under the terms of the proposed transaction valued at approximately $11.2 billion, Cole stockholders may elect to receive 1.0929 shares of ARCP stock or $13.82 in cash for each share of stock owned. Based upon ARCP’s closing price on October 22, 2013, the proposed consideration for the offer is approximately $14.59, well below at least one analyst’s estimated value of $15.00 per share.
If you are an affected investor, and you want to learn more about the lawsuit or join the action, please contact Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 239-4568, via email at WBriscoe@TheBriscoeLawFirm.com or Zach Groover at Powers Taylor LLP, toll free (877) 728-9607, via e-mail at firstname.lastname@example.org. There is no cost or fee to you.
The Cole sale investigation centers on whether Cole shareholders are receiving adequate compensation for their shares, whether the transaction undervalues Cole’s stock, and whether Cole’s board attempted to obtain the highest share price for all shareholders prior to agreeing to the deal. Notably, according to at least one analyst with Yahoo! Finance, the true inherent value of Cole stock could be as high as $15.00 per share.
The Briscoe Law Firm, PLLC is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation and transactional matters.Powers Taylor LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.