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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
Washington, D.C. 20549</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>_________________________</B></P>

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<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM 8-K</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>CURRENT
REPORT<BR>
</B></FONT><B>Pursuant to Section 13 or 15(d) of<BR>
the Securities Exchange Act of 1934</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Date of Report (date of earliest event reported): September 6, 2012</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>_________________________</B></P>

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<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>AMERICAN REALTY CAPITAL TRUST, INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact name of Registrant as specified in
its charter)</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>_________________________</B></P>

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    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: center; width: 30%">Maryland</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: center; width: 30%">001-35439</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: center; width: 30%">71-1036989</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(State or other jurisdiction of</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(Commission File Number)</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(IRS Employer</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">incorporation)</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Identification No.)</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>405 Park Avenue, 14<SUP>th</SUP> Floor<BR>
New York, New York 10022<BR>
</B>(Address of principal executive offices, including zip code)</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(646) 937-6900<BR>
</B>(Registrant&rsquo;s telephone number, including area code)</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Former name or former address, if changed
since last report)<BR>
<B>_________________________</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</P>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></FONT></TD><TD STYLE="text-align: justify">Written communications pursuant to Rule 425 under the
Securities Act (17 CFR 230.425)</TD>
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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#120;</FONT></TD><TD STYLE="text-align: justify">Soliciting material pursuant to Rule 14a-12 under the
Exchange Act (17 CFR 240.14a-12)</TD>
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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify">Pre-commencement communications pursuant to Rule 14d-2(b)
under the Exchange Act (17 CFR 240.14d-2(b))</TD>
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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify">Pre-commencement communications pursuant to Rule 13e-4(c)
under the Exchange Act (17 CFR 240.13e-4(c))</TD>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 1.01 Entry Into a Material Definitive Agreement.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Merger Agreement</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On September 6, 2012, American Realty Capital Trust, Inc., a
Maryland corporation (the &ldquo;Company&rdquo;), entered into an Agreement and Plan of Merger (the &ldquo;Merger Agreement&rdquo;)
with Realty Income Corporation, a Maryland corporation (&ldquo;Realty&rdquo;), and Tau Acquisition LLC, a Delaware limited liability
company and wholly owned subsidiary of Realty (&ldquo;Merger Sub&rdquo;). The Merger Agreement provides for the merger of the Company
with and into Merger Sub (the &ldquo;Merger&rdquo;), with Merger Sub surviving as a wholly owned subsidiary of Realty. The board
of directors of the Company (the &ldquo;Board&rdquo;) has unanimously approved the Merger Agreement, the Merger and the other transactions
contemplated by the Merger Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pursuant to the terms and subject to the conditions set forth
in the Merger Agreement, at the effective time of the Merger (the &ldquo;Effective Time&rdquo;), each outstanding share of common
stock, par value $0.01 per share, of the Company (&ldquo;Company Common Stock&rdquo;), will be converted into the right to receive
0.2874 shares of common stock, par value $0.01 per share, of Realty (&ldquo;Realty Common Stock&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Merger Agreement provides that any options to purchase shares
of Company Common Stock that are outstanding and unexercised at the Effective Time will be deemed subject to a cashless exercise
and the holder thereof will be deemed to receive a number of shares of Company Common Stock equal to (a) the number of shares of
Company Common Stock subject to each such option, less (b) the number of shares of Company Common Stock equal in value to the aggregate
exercise price of each option, assuming a fair market value of a share of Company Common Stock equal to the closing price of the
Company Common Stock on the last completed trading day immediately prior to the consummation of the Merger, which shares of Company
Common Stock will be converted into the right to receive 0.2874 shares of Parent Common Stock. In addition, immediately prior to
the Effective Time, the vesting of each share of Company restricted stock will be accelerated, and each such share will be converted
into the right to receive 0.2874 shares of Realty Common Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company and Realty have made certain customary representations
and warranties to each other in the Merger Agreement. The Company has agreed, among other things, not to <FONT STYLE="color: black">solicit,
initiate, knowingly encourage or facilitate any inquiry, discussion, offer or request from </FONT>third parties regarding other
proposals to acquire the Company and not to engage in any discussions or negotiations regarding any such proposal, or furnish to
any third party non-public information regarding the Company. The Company has also agreed to certain other restrictions on its
ability to respond to any such proposals. The Merger Agreement also includes certain termination rights for both the Company and
Realty and provides that, in connection with the termination of the Merger Agreement, under specified circumstances, (i) the Company
may be required to pay to Realty a termination fee of $51,000,000 and/or reimburse Realty&rsquo;s transaction expenses in an amount
equal to $4,000,000 and (ii) Realty may be required to reimburse the Company&rsquo;s transaction expenses in an amount equal to
$4,000,000.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The completion of the Merger is subject to various conditions,
including, among other things, the approval by the Company&rsquo;s stockholders of the Merger and the other transactions contemplated
by the Merger Agreement, the approval by Realty&rsquo;s stockholders of the issuance of Realty Common Stock in connection with
the Merger and certain consents having been obtained.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">A copy of the Merger Agreement is attached hereto as Exhibit&nbsp;2.1
and is incorporated herein by reference. The foregoing description of the Merger Agreement does not purport to be complete and
is qualified in its entirety by reference to the full text of the Merger Agreement. The representations and warranties in the Merger
Agreement were made as of a specified date, may be subject to a contractual standard of materiality different from what might be
viewed as material to stockholders, or may have been used for the purpose of allocating risk between the parties. Accordingly,
the representations and warranties in the Merger Agreement are not necessarily characterizations of the actual state of facts about
the Company or Realty at the time they were made or otherwise and should only be read in conjunction with the other information
that the Company makes publicly available in reports, statements and other documents filed with the Securities and Exchange Commission
(the &ldquo;SEC&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Voting Agreement</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Concurrently with the execution of the Merger Agreement, Nicholas
S. Schorsch, the Chairman of the Board, and William M. Kahane, the Chief Executive Officer and President of the Company, entered
into a voting agreement with Realty and the Company (the &ldquo;Voting Agreement&rdquo;) pursuant to which each of them has agreed
to vote in favor of the Merger and the other transactions contemplated by the Merger Agreement, upon the terms and subject to the
conditions set forth in such agreements. The Voting Agreement will terminate upon certain circumstances, including upon termination
of the Merger Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">A copy of the Voting Agreement is attached hereto as Exhibit
99.1 and is incorporated herein by reference. The foregoing description of the Voting Agreement does not purport to be complete
and is qualified in its entirety by reference to the full text of the Voting Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Additional Information about the Proposed Transaction and
Where to Find It</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">This communication does not constitute an offer to sell or the
solicitation of an offer to buy any securities or a solicitation of any vote or approval. In connection with the proposed transaction,
the Company and Realty expect to prepare and file with the SEC a registration statement on Form S-4 containing a joint proxy statement/prospectus
and other documents with respect to Realty&rsquo;s proposed acquisition of the Company. <B>INVESTORS ARE URGED TO READ THE JOINT
PROXY STATEMENT/PROSPECTUS (INCLUDING ALL AMENDMENTS AND SUPPLEMENTS THERETO) AND OTHER RELEVANT DOCUMENTS FILED WITH THE SEC IF
AND WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Investors may obtain free copies of the registration statement,
the joint proxy statement/prospectus and other relevant documents filed by the Company and Realty with the SEC (if and when they
become available) through the website maintained by the SEC at www.sec.gov. Copies of the documents filed by the Company with the
SEC are also available free of charge on the Company&rsquo;s website at http://ir.arctreit.com, and copies of the documents filed
by Realty with the SEC are available free of charge on Realty&rsquo;s website at http://www.realtyincome.com.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company, Realty and their respective directors and executive
officers may be deemed to be participants in the solicitation of proxies from the Company&rsquo;s and Realty&rsquo;s stockholders
in respect of the proposed transaction. Information regarding the Company&rsquo;s directors and executive officers can be found
in the Company&rsquo;s definitive proxy statement filed with the SEC on May 21, 2012. Information regarding Realty&rsquo;s directors
and executive officers can be found in Realty&rsquo;s definitive proxy statement filed with the SEC on March&nbsp;30, 2012. Additional
information regarding the interests of such potential participants will be included in the joint proxy statement/prospectus and
other relevant documents filed with the SEC in connection with the proposed transaction if and when they become available. These
documents are available free of charge on the SEC&rsquo;s website and from the Company or Realty, as applicable, using the sources
indicated above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Forward-Looking Statements </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Information set forth in this Current Report on Form 8-K (including
information included or incorporated by reference herein) contains &ldquo;forward-looking statements&rdquo; (as defined in Section
21E of the Securities Exchange Act of 1934, as amended), which reflect the Company&rsquo;s and Realty&rsquo;s expectations regarding
future events. The forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual
results to differ materially from those contained in the forward-looking statements. Such forward-looking statements include, but
are not limited to whether and when the transactions contemplated by the Merger Agreement will be consummated, the new combined
company&rsquo;s plans, market and other expectations, objectives, intentions and other statements that are not historical facts.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The following additional factors, among others, could cause
actual results to differ from those set forth in the forward-looking statements: the ability to obtain regulatory approvals for
the transaction and the approval of the Merger Agreement by the stockholders of both parties; unexpected costs or unexpected liabilities
that may arise from the transaction, whether or not consummated; the inability to retain key personnel; continuation or deterioration
of current market conditions; future regulatory or legislative actions that could adversely affect the companies; and the business
plans of the customers of the respective parties. Additional factors that may affect future results are contained in the Company&rsquo;s
and Realty&rsquo;s filings with the SEC, which are available at the SEC&rsquo;s website at www.sec.gov. The Company and Realty
disclaim any obligation to update and revise statements contained in these materials based on new information or otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 8.01 Other Events.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On September 6, 2012, the Company and Realty issued a joint
press release announcing the execution of the Merger Agreement, a copy of which is attached hereto as Exhibit 99.2 and is incorporated
herein by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 9.01 Financial Statements and Exhibits.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(d)&#9;Exhibits.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 14%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; border-bottom: Black 0.5pt solid">Exhibit No</P></TD>
    <TD STYLE="width: 86%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-bottom: Black 0.5pt solid">Description&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt">2.1</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt">Agreement and Plan of Merger, dated as of September 6, 2012, among American Realty Capital Trust, Inc., Realty Income Corporation and Tau Acquisition LLC</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt">99.1</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt">Voting Agreement, dated as of September 6, 2012, among American Realty Capital Trust, Inc., Realty Income Corporation, Nicholas S. Schorsch and William M. Kahane</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt">99.2</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt">Joint Press Release issued by American Realty Capital Trust, Inc. and Realty Income Corporation on September 6, 2012</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt">99.3</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt">Investor Presentation, dated as of September 6, 2012</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURES</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left">Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.</P>

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    <TD COLSPAN="2">AMERICAN REALTY CAPITAL TRUST,
INC.</TD></TR>
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    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; width: 50%">Date: September 6, 2012&nbsp;</TD>
    <TD STYLE="width: 4%">By:&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 46%">/s/ William M. Kahane</TD></TR>
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    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: #000000 1px solid">Name: William M. Kahane<BR>Title: Chief Executive Officer and President</TD></TR>
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[{"type": "8-K", "sequence": "1", "filename": "v323139_8k.htm", "description": "FORM 8-K", "secsgml_size_bytes": 28674}]
{"company-data": {"conformed-name": "American Realty Capital Trust, Inc.", "cik": "0001410997", "assigned-sic": "6500", "irs-number": "711036989", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-35439", "film-number": "121077562"}, "business-address": {"street1": "106 OLD YORK ROAD", "city": "JENKINTOWN", "state": "PA", "zip": "19046", "phone": "215.887.2189"}, "mail-address": {"street1": "106 OLD YORK ROAD", "city": "JENKINTOWN", "state": "PA", "zip": "19046"}}
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_________________________
FORM 8-K
CURRENT
REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (date of earliest event reported): September 6, 2012
_________________________
AMERICAN REALTY CAPITAL TRUST, INC.
(Exact name of Registrant as specified in
its charter)
_________________________
Maryland
001-35439
71-1036989
(State or other jurisdiction of
(Commission File Number)
(IRS Employer
incorporation)
Identification No.)
405 Park Avenue, 14
th
Floor
New York, New York 10022
(Address of principal executive offices, including zip code)
(646) 937-6900
(Registrant's telephone number, including area code)
(Former name or former address, if changed
since last report)
_________________________
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨
Written communications pursuant to Rule 425 under the
Securities Act (17 CFR 230.425)
x
Soliciting material pursuant to Rule 14a-12 under the
Exchange Act (17 CFR 240.14a-12)
¨
Pre-commencement communications pursuant to Rule 14d-2(b)
under the Exchange Act (17 CFR 240.14d-2(b))
¨
Pre-commencement communications pursuant to Rule 13e-4(c)
under the Exchange Act (17 CFR 240.13e-4(c))
Item 1.01 Entry Into a Material Definitive Agreement.
Merger Agreement
On September 6, 2012, American Realty Capital Trust, Inc., a
Maryland corporation (the "Company"), entered into an Agreement and Plan of Merger (the "Merger Agreement")
with Realty Income Corporation, a Maryland corporation ("Realty"), and Tau Acquisition LLC, a Delaware limited liability
company and wholly owned subsidiary of Realty ("Merger Sub"). The Merger Agreement provides for the merger of the Company
with and into Merger Sub (the "Merger"), with Merger Sub surviving as a wholly owned subsidiary of Realty. The board
of directors of the Company (the "Board") has unanimously approved the Merger Agreement, the Merger and the other transactions
contemplated by the Merger Agreement.
Pursuant to the terms and subject to the conditions set forth
in the Merger Agreement, at the effective time of the Merger (the "Effective Time"), each outstanding share of common
stock, par value $0.01 per share, of the Company ("Company Common Stock"), will be converted into the right to receive
0.2874 shares of common stock, par value $0.01 per share, of Realty ("Realty Common Stock").
The Merger Agreement provides that any options to purchase shares
of Company Common Stock that are outstanding and unexercised at the Effective Time will be deemed subject to a cashless exercise
and the holder thereof will be deemed to receive a number of shares of Company Common Stock equal to (a) the number of shares of
Company Common Stock subject to each such option, less (b) the number of shares of Company Common Stock equal in value to the aggregate
exercise price of each option, assuming a fair market value of a share of Company Common Stock equal to the closing price of the
Company Common Stock on the last completed trading day immediately prior to the consummation of the Merger, which shares of Company
Common Stock will be converted into the right to receive 0.2874 shares of Parent Common Stock. In addition, immediately prior to
the Effective Time, the vesting of each share of Company restricted stock will be accelerated, and each such share will be converted
into the right to receive 0.2874 shares of Realty Common Stock.
The Company and Realty have made certain customary representations
and warranties to each other in the Merger Agreement. The Company has agreed, among other things, not to
solicit,
initiate, knowingly encourage or facilitate any inquiry, discussion, offer or request from
third parties regarding other
proposals to acquire the Company and not to engage in any discussions or negotiations regarding any such proposal, or furnish to
any third party non-public information regarding the Company. The Company has also agreed to certain other restrictions on its
ability to respond to any such proposals. The Merger Agreement also includes certain termination rights for both the Company and
Realty and provides that, in connection with the termination of the Merger Agreement, under specified circumstances, (i) the Company
may be required to pay to Realty a termination fee of $51,000,000 and/or reimburse Realty's transaction expenses in an amount
equal to $4,000,000 and (ii) Realty may be required to reimburse the Company's transaction expenses in an amount equal to
$4,000,000.
The completion of the Merger is subject to various conditions,
including, among other things, the approval by the Company's stockholders of the Merger and the other transactions contemplated
by the Merger Agreement, the approval by Realty's stockholders of the issuance of Realty Common Stock in connection with
the Merger and certain consents having been obtained.
A copy of the Merger Agreement is attached hereto as Exhibit 2.1
and is incorporated herein by reference. The foregoing description of the Merger Agreement does not purport to be complete and
is qualified in its entirety by reference to the full text of the Merger Agreement. The representations and warranties in the Merger
Agreement were made as of a specified date, may be subject to a contractual standard of materiality different from what might be
viewed as material to stockholders, or may have been used for the purpose of allocating risk between the parties. Accordingly,
the representations and warranties in the Merger Agreement are not necessarily characterizations of the actual state of facts about
the Company or Realty at the time they were made or otherwise and should only be read in conjunction with the other information
that the Company makes publicly available in reports, statements and other documents filed with the Securities and Exchange Commission
(the "SEC").
Voting Agreement
Concurrently with the execution of the Merger Agreement, Nicholas
S. Schorsch, the Chairman of the Board, and William M. Kahane, the Chief Executive Officer and President of the Company, entered
into a voting agreement with Realty and the Company (the "Voting Agreement") pursuant to which each of them has agreed
to vote in favor of the Merger and the other transactions contemplated by the Merger Agreement, upon the terms and subject to the
conditions set forth in such agreements. The Voting Agreement will terminate upon certain circumstances, including upon termination
of the Merger Agreement.
A copy of the Voting Agreement is attached hereto as Exhibit
99.1 and is incorporated herein by reference. The foregoing description of the Voting Agreement does not purport to be complete
and is qualified in its entirety by reference to the full text of the Voting Agreement.
Additional Information about the Proposed Transaction and
Where to Find It
This communication does not constitute an offer to sell or the
solicitation of an offer to buy any securities or a solicitation of any vote or approval. In connection with the proposed transaction,
the Company and Realty expect to prepare and file with the SEC a registration statement on Form S-4 containing a joint proxy statement/prospectus
and other documents with respect to Realty's proposed acquisition of the Company.
INVESTORS ARE URGED TO READ THE JOINT
PROXY STATEMENT/PROSPECTUS (INCLUDING ALL AMENDMENTS AND SUPPLEMENTS THERETO) AND OTHER RELEVANT DOCUMENTS FILED WITH THE SEC IF
AND WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION.
Investors may obtain free copies of the registration statement,
the joint proxy statement/prospectus and other relevant documents filed by the Company and Realty with the SEC (if and when they
become available) through the website maintained by the SEC at www.sec.gov. Copies of the documents filed by the Company with the
SEC are also available free of charge on the Company's website at http://ir.arctreit.com, and copies of the documents filed
by Realty with the SEC are available free of charge on Realty's website at http://www.realtyincome.com.
The Company, Realty and their respective directors and executive
officers may be deemed to be participants in the solicitation of proxies from the Company's and Realty's stockholders
in respect of the proposed transaction. Information regarding the Company's directors and executive officers can be found
in the Company's definitive proxy statement filed with the SEC on May 21, 2012. Information regarding Realty's directors
and executive officers can be found in Realty's definitive proxy statement filed with the SEC on March 30, 2012. Additional
information regarding the interests of such potential participants will be included in the joint proxy statement/prospectus and
other relevant documents filed with the SEC in connection with the proposed transaction if and when they become available. These
documents are available free of charge on the SEC's website and from the Company or Realty, as applicable, using the sources
indicated above.
Forward-Looking Statements
Information set forth in this Current Report on Form 8-K (including
information included or incorporated by reference herein) contains "forward-looking statements" (as defined in Section
21E of the Securities Exchange Act of 1934, as amended), which reflect the Company's and Realty's expectations regarding
future events. The forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual
results to differ materially from those contained in the forward-looking statements. Such forward-looking statements include, but
are not limited to whether and when the transactions contemplated by the Merger Agreement will be consummated, the new combined
company's plans, market and other expectations, objectives, intentions and other statements that are not historical facts.
The following additional factors, among others, could cause
actual results to differ from those set forth in the forward-looking statements: the ability to obtain regulatory approvals for
the transaction and the approval of the Merger Agreement by the stockholders of both parties; unexpected costs or unexpected liabilities
that may arise from the transaction, whether or not consummated; the inability to retain key personnel; continuation or deterioration
of current market conditions; future regulatory or legislative actions that could adversely affect the companies; and the business
plans of the customers of the respective parties. Additional factors that may affect future results are contained in the Company's
and Realty's filings with the SEC, which are available at the SEC's website at www.sec.gov. The Company and Realty
disclaim any obligation to update and revise statements contained in these materials based on new information or otherwise.
Item 8.01 Other Events.
On September 6, 2012, the Company and Realty issued a joint
press release announcing the execution of the Merger Agreement, a copy of which is attached hereto as Exhibit 99.2 and is incorporated
herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d)	Exhibits.
Exhibit No
Description
2.1
Agreement and Plan of Merger, dated as of September 6, 2012, among American Realty Capital Trust, Inc., Realty Income Corporation and Tau Acquisition LLC
99.1
Voting Agreement, dated as of September 6, 2012, among American Realty Capital Trust, Inc., Realty Income Corporation, Nicholas S. Schorsch and William M. Kahane
99.2
Joint Press Release issued by American Realty Capital Trust, Inc. and Realty Income Corporation on September 6, 2012
99.3
Investor Presentation, dated as of September 6, 2012
SIGNATURES
Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.
AMERICAN REALTY CAPITAL TRUST,
INC.
Date: September 6, 2012
By:
/s/ William M. Kahane
Name: William M. Kahane
Title: Chief Executive Officer and President