Arlington Asset Investment gains after agreeing to $135 mln buyout deal

Ellington Financial

30/05/2023 12:45

** Shares of Arlington Asset Investment Corp  AAIC.N  jump
50% to $4.11 premarket
    ** The real estate investment trust agreed to be bought by
Ellington Financial Inc  EFC.N  for $135 mln or $4.77/share 
    ** Deal, expected to close in fourth quarter of 2023, will
help increase EFC scale and boost cost efficiencies, firms say
    ** EFC shares drop 4.2% to $12.38 premarket
    ** As of last close, EFC had gained 4.5%, while AAIC was
down 6.1% YTD 

 (Reporting by Niket Nishant in Bengaluru)
 ((Niket.Nishant@thomsonreuters.com;))