Market Overview

Annaly Capital Management to Acquire CreXus Investment Corp for $13.00/Share

Related CXS
Annaly, CreXus Report Final Results of Tender Offer, Annaly Exercised Option for Added CreXus Shares
Annaly Commences Offer to Purchase All CreXus Shares

CreXus Investment Corp. (NYSE: CXS) (the “Company”) announced today that
it has entered into a definitive merger agreement pursuant to which
Annaly Capital Management, Inc. (NYSE: NLY) (“Annaly”) will acquire all
of the outstanding shares of common stock of the Company not currently
owned by Annaly for $13.00 per share in cash. The transaction, which is
structured as a tender offer followed by a merger, has been approved by
the Company's board of directors upon the unanimous recommendation and
approval of a Special Committee consisting of the Company's three
independent directors.

The $13.00 per share price represents a 17.1% premium to the Company's
unaffected share price on November 9, 2013, the trading day prior to

See full press release

Posted-In: News M&A Global

 

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