NorthStar Says Not In Talks With American Realty; Stays Focused On Spin-off Plan

(RTTNews) - Responding to media reports, NorthStar Realty Finance Corp. (NRF) Tuesday announced that it is not currently engaged in acquisition-related talks with American Realty Capital Properties, Inc. (ARCP).

The diversified commercial real estate investment and asset management company said it remains focused on executing its business plan, including the spin-off of its asset management business.

"While NorthStar may engage in discussions with interested parties and focuses on maximizing shareholder value, NorthStar is not currently engaged in discussions with American Realty Capital Properties, Inc. NorthStar's general policy is not to comment on market rumors," the company said in its statement.

According to multiple reports emerged on Monday, American Realty was in discussions to acquire NorthStar for $20 per share in a cash and stock deal. The potential transaction would value the company at more than $6 billion.

Following the media reports, NorthStar shares gained $1.17 or 7.30 percent on Monday's trading, and settled at $17.20.