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MTGE - MTGE Investment News Story

$19.8 0.0  0.0%

Last Trade - 06/09/18

Sector
Financials
Size
Micro Cap
Market Cap £n/a
Enterprise Value £n/a
Revenue £108.1m
Position in Universe th / 6846

BRIEF-Annaly Capital Management To Acquire MTGE Investment For $900 Million

Wed 2nd May, 2018 10:38pm
May 2 (Reuters) - Annaly Capital Management Inc  NLY.N :
    * ANNALY CAPITAL MANAGEMENT, INC. TO ACQUIRE MTGE INVESTMENT
CORP.
FOR $900 MILLION
    * ANNALY CAPITAL MANAGEMENT INC - DEAL ACCRETIVE TO ANNALY'S
CORE
EARNINGS PER SHARE OF COMMON STOCK
    * ANNALY CAPITAL MANAGEMENT INC - TRANSACTION CONSIDERATION
TO
CONSIST OF APPROXIMATELY 50% ANNALY SHARES AND APPROXIMATELY 50%
CASH
    * ANNALY CAPITAL MANAGEMENT - DEAL VALUES MTGE AT $19.65 PER
SHARE
OF MTGE COMMON STOCK
    * ANNALY CAPITAL MANAGEMENT INC - DEAL TO PROVIDES IMMEDIATE
AND
TANGIBLE COST SAVINGS TO SHAREHOLDERS
    * ANNALY CAPITAL MANAGEMENT INC - ANNALY WOULD ASSUME
EXISTING
NOTIONAL $55 MILLION IN MTGE 8.125% SERIES A CUMULATIVE
REDEEMABLE PREFERRED STOCK
    * ANNALY CAPITAL - AS PART OF DEAL, MTGE SHAREHOLDERS MAY
ELECT TO
RECEIVE $9.82 IN CASH AND 0.9519 SHARES OF ANNALY STOCK
    * ANNALY CAPITAL MANAGEMENT INC -  FOR EACH SHARE OF MTGE
COMMON
STOCK, MTGE SHAREHOLDERS MAY ALSO ELECT TO RECEIVE 1.9037 SHARES
OF ANNALY COMMON STOCK
    * ANNALY CAPITAL - AS PART OF DEAL, MTGE SHAREHOLDERS MAY
ELECT TO
RECEIVE $19.65 IN CASH FOR EACH SHARE OF MTGE STOCK

Source text for Eikon:  ID:nBw1MX88a 
Further company coverage:  NLY.N 

 (((Reuters.Briefs@thomsonreuters.com);;))
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