Ellington Financial, Arlington Asset Investment Enter Definitive Merger Agreement
Portfolio Pulse from Benzinga Newsdesk
Ellington Financial will acquire Arlington Asset Investment in a definitive merger agreement. The deal implies a 73% premium to Arlington's share price on May 26, 2023, and a 15% discount to diluted tangible book value per share as of March 31, 2023.
May 30, 2023 | 11:14 am
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POSITIVE IMPACT
Arlington Asset Investment's share price is expected to rise due to the 73% premium offered by Ellington Financial in the merger agreement.
The 73% premium offered by Ellington Financial for Arlington's shares indicates a significant increase in the value of Arlington's stock. This is likely to result in a short-term increase in Arlington's share price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
NEUTRAL IMPACT
Ellington Financial's acquisition of Arlington Asset Investment may have a neutral short-term impact on its stock price.
The acquisition of Arlington Asset Investment by Ellington Financial may not have a significant short-term impact on Ellington's stock price, as the market has likely already priced in the acquisition.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 100