Farallon ups stake in Spirit Finance to 5.6%

By Lisa Kerner

Charlotte, N.C., Match 14 - Spirit Finance Corp. investors led by Farallon Capital Partners, LP purchased 200,000 shares of the company's stock on March 13, increasing their stake to 6,010,000 shares, or 5.6%, from the 5,810,000 shares, or 5.4%, of the company's shares reported on March 8.

The transaction was reported in a schedule 13D filed with the Securities and Exchange Commission.

On Tuesday, Spirit Finance announced it had entered into a definitive merger agreement to be acquired by a consortium led by Macquarie Bank Ltd. and Kaupthing Bank hf. for $14.50 per share in cash, or about $3.5 billion including assumed debt.

The consortium agreed to purchase 6,150,000 newly issued shares of Spirit Finance common stock at $12.99 per share.

Spirit Finance is a Scottsdale, Ariz., real estate investment trust.

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