News & Announcements

Weil Advises American Realty in $9B Offer to Buy Cole Credit

A Weil team led by Corporate Chairman Michael Aiello is advising real estate investment trust American Realty Capital Properties, Inc. (American Realty) in connection with its approximately $9 billion unsolicited offer (including assumption of debt) to purchase 100% of the outstanding common stock of Cole Credit Property Trust III, Inc. When completed, the transaction will create the largest publicly traded real estate investment trust in the net lease sector.

In addition to Michael Aiello, the Weil team advising American Realty in connection with its offer includes M&A partner Matthew Gilroy and M&A associates Sachin Kohli, Megan Pendleton, and Danielle Barnes (all in New York).

This news was reported in the following outlets (may require registration/subscription):

  • Financial Times: American Realty in $5.7bn bid for Cole Credit (March 20, 2013)
  • The Deal: American Realty Capital Properties bids $9B for Cole Credit (March 20, 2013)
  • Law360: Weil, Proskauer Aid American Realty On $6B REIT Offer (March 20, 2013)
  • Fox Business: American Realty Offers $5.7B to Create One of the Largest Public REITs (March 20, 2013)
  • CoStar Group: POWER PLAY: American Realty Makes $9 Billion Offer to Buy Cole Holdings REIT (March 20, 2013)
  • Schorsch Makes $9B Pitch for Cole Credit III (March 20, 2013)
  • The Am Law Daily: Proskauer, Weil Advise American Realty on $9 Billion REIT Bid (March 20, 2013)
  • The Deal: Cole Credit rejects ARCP bid (March 21, 2013)
  • Law360: Cole Spurns $5.7B American Realty Bid For Adviser Tie-Up (March 21, 2013)
  • Daily Journal: Sullivan & Cromwell advising on $9 billion REIT offer (March 21, 2013)
  • Bloomberg / Businessweek: Weil, Proskauer, S&C, Jones Day, Bingham: Business of Law (March 21, 2013)
  • The Deal: ARCP increases Cole Credit bid (March 27, 2013)
  • Law360: American Realty Raises Cole Bid To $9.7B After Stiff-Arm (March 27, 2013)
  • Law360: Cole To Discuss Sweetened $9.7B American Realty Bid (March 28, 2013)