Market Overview

Annaly Capital Management to Acquire CreXus Investment Corp. for $12.50/Share in Cash

Share:
Related NLY
Barron's 2016 Roundtable Part 2: Lots Of Savvy Investment Ideas
Enticing Yields And Risks With Mortgage REIT ETFs
Why The Fed Is Making Me Nervous (Seeking Alpha)

Annaly Capital Management (NYSE: NLY)
announced today that it has proposed to the Board of Directors of CreXus
Investment Corp. (NYSE: CXS) to acquire for cash all of the
shares of CreXus that Annaly does not currently own.

CreXus has approximately 76,630,528 shares of common stock outstanding,
of which Annaly holds 9,527,778 shares, or approximately 12.4%.

PROPOSAL TERMS

Under the terms of the proposal, Annaly proposes to acquire all the
CreXus shares it does not already own for $12.50 per share in cash. This
represents approximately a 13% premium to CreXus' last reported share
price, approximately a 16% premium to the

See full press release

Posted-In: News Guidance Contracts Management M&A Global

 

Related Articles (NLY + CXS)

View Comments and Join the Discussion!

Get Benzinga's Newsletters