Why Great Ajax Shares Are Gaining Today
Portfolio Pulse from Nabaparna Bhattacharya
Ellington Financial Inc. (EFC) has entered a definitive merger agreement to acquire Great Ajax Corp. (AJX) for an implied offer price of $7.33 per share, a 19% premium to the Great Ajax stock closing price on June 30, 2023. Following the acquisition, each share of Great Ajax common stock will be converted into 0.5308 shares of Ellington Financial common stock. The transaction is expected to be accretive to earnings within one year of closing.
July 03, 2023 | 1:11 pm
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POSITIVE IMPACT
Great Ajax is being acquired by Ellington Financial at a 19% premium to its closing price on June 30, 2023. This has led to a rise in the company's stock price.
Great Ajax's stock price is likely to rise due to the acquisition by Ellington Financial at a 19% premium to its closing price on June 30, 2023. This premium represents a significant increase in value for Great Ajax's shareholders.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Ellington Financial is acquiring Great Ajax, which could lead to increased earnings within a year. The company will also gain strategic assets from the acquisition.
The acquisition of Great Ajax by Ellington Financial is expected to be accretive to earnings within a year, which could lead to a positive impact on the company's stock price. Additionally, the acquisition will add strategic assets to Ellington's portfolio.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100