It has been a good few days for me so far this week in the markets. Yesterday Kimberly Clark rallied big on earnings and followed through today. Today Boeing smashed the estimates and soared like their famous new plane that has been delayed many times the 787.
Then also this morning ARCP announced a proposed merger with COLE. I own shares in both companies and they had been fighting over COLE turning down a couple offers from ARCP in the past that resulted in ARCP CEO Nicholas Scorsch calling a COLE executive a liar I recalled reading in the past. There is a offer on the table and I would have the option to receive a specified amount of cash per share for my COLE shares or 1.0929 shares worth of ARCP for every COLE share owned. I think I would likely take the shares as with all the ARCP acquisitions and mergers this will make them the World's largest REIT. It would result in an enterprise value of $21.5 Billion Market Cap and the dividend will be raised again to boot. I can't argue as a shareholder with raises in my monthly dividend income and a stronger portfolio and company for leverage in the REIT industry. I am considering trying to add to these positions in the future as both plan to continue normal operations and dividend payments until the merger is completed. I'm still trying to read and learn about the details of this merger, but also looking for attractive income producing securities to welcome to my account.
What about you? Having a good week with earnings? Own any ARCP or COLE?