Mortgage-backed REIT Annaly Capital Management Inc said it will purchase the remaining shares of CreXus Investment Corp, valuing the company at $958 million.Annaly will pay $12.50 per share, a premium of 13 percent to CreXus's Friday closing price. Annaly already owns about 12 percent of CreXus.CreXus, which is structured as a real estate investment trust (REIT), is managed by Annaly's wholly owned subsidiary, Fixed Income Discount Advisory Co (FIDAC).Two of FIDAC's employee are on CreXus's board and Annaly expects CreXus to form a special committee of independent directors to consider the proposal.
Shares of CXS remained unchanged at $11.10. In the past year, the shares have traded as low as $9.06 and as high as $11.50. On average, 465494 shares of CXS exchange hands on a given day and today's volume is recorded at 100.
Annaly Capital Management, Inc. (Annaly) owns, manages, and finances a portfolio of real estate related investments, including mortgage pass-through certificates, collateralized mortgage obligations (CMOs), Agency callable debentures, and other securities representing interests in or obligations backed by pools of mortgage loans. Shares of NLY remained unchanged at $14.98. In the past year, the shares have traded as low as $15.52 and as high as $17.75. On average, 9390870 shares of NLY exchange hands on a given day and today's volume is recorded at 0.
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