NEW YORK, Sept. 6, 2012 /PRNewswire/ -- Harwood Feffer LLP (www.hfesq.com) is investigating potential claims against the board of directors of American Realty Capital Trust Inc. ("ARCT" or the "Company") (NASDAQ: ARCT) concerning the proposed acquisition of the Company by Realty Income Corp. ("Realty Income") in a transaction valued at approximately $1.9 billion.
On September 6, 2012, it was announced that ARCT and Realty Income have entered into a definitive agreement pursuant to which Realty Income will acquire ARCT. Under the agreement, ARCT shareholders will receive 0.2874 Realty Income shares per ARCT share held, an approximate value of $12.21 per share. At least one analyst has set a target price for ARCT stock of $13.00.
Our investigation concerns whether the ARCT board of directors is fulfilling its fiduciary duties, maximizing the value of the Company, disclosing all material benefits and costs, and obtaining full and fair consideration for Company shareholders.
If you own ARCT shares and wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:
Benjamin Sachs-Michaels, Esq. Robert I. Harwood, Esq. Harwood Feffer LLP 488 Madison Avenue New York, New York 10022 Phone Numbers: (877) 935-7400 (212)935-7400 Email:[email protected] Website:http://www.hfesq.com
Harwood Feffer has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in federal and state courts. Please visit the Harwood Feffer LLP website (http://www.hfesq.com) for more information about the firm.