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Annaly Capital to buy CreXus Investment in $872 million deal
January 31, 2013 / 11:56 AM / 5 years ago

Annaly Capital to buy CreXus Investment in $872 million deal

Jan 31 (Reuters) - Mortgage-backed REIT Annaly Capital Management Inc said it will spend $872 million to buy all the shares of CreXus Investment Corp it does not already own.

Annaly, which holds about 12.4 percent of CreXus, will pay $13 per share in cash for the remaining shares, a 4 percent premium to the stock’s Wednesday close.

The deal, which has been approved by the CreXus board, values CreXus at about $996 million.

Annaly, the largest mortgage REIT listed on the New York Stock Exchange, had in November offered $12.50 for each CreXus share, then a 13 percent premium.

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