Mortgage REIT Annaly Capital Management (NLY) launched its pre-announced offering to acquire the remaining shares of CreXus Investment Corp. for $13 per share, the company said Monday.
The offering expires at 5 p.m. on April 16.
Annaly previously said it would acquire the commercial real estate platform since CreXus compliments its existing business.
Under the merger plan, the acquisition will not be finalized unless the shares that are tendered include at least 51% of the shares that are not owned by Annaly, any of the firms directors or officers, or officers tied to CreXus.
