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American Finance Trust, ARC - Retail Centers delay vote on merger deal

American Finance Trust Inc. and American Realty Capital - Retail Centers of America Inc. pushed back their respective special stockholder meetings to vote on the companies' pending merger to Feb. 13, 2017, from an initial date of Jan. 25, 2017.

Under the merger deal, American Finance will acquire ARC - Retail Centers of America for roughly $1.4 billion, or about $10.26 per share. ARC - Retail Centers of America shareholders will receive 95 cents in cash and 0.385 shares of American Finance common stock for each ARC - Retail share they own.

The boards of both parties recommended that their respective shareholders vote in favor of the transaction.