Terra Property Trust Reaffirms Commitment To Previously Announced Combination With Western Asset Mortgage Capital
Portfolio Pulse from Benzinga Newsdesk
Terra Property Trust (TPT) has reaffirmed its commitment to its previously announced combination with Western Asset Mortgage Capital (WMC). This comes after AG Mortgage Investment Trust (MITT) submitted an unsolicited non-binding proposal to acquire WMC.
July 13, 2023 | 9:32 pm
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POSITIVE IMPACT
WMC is the target of acquisition proposals from both MITT and TPT, with TPT recently reaffirming its commitment to combine with WMC.
WMC's stock may potentially benefit in the short term from the increased attention and competition between MITT and TPT for its acquisition.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
MITT's unsolicited proposal to acquire WMC may be impacted by TPT's reaffirmed commitment to combine with WMC.
MITT's proposal to acquire WMC may be less likely to succeed given TPT's reaffirmed commitment to combine with WMC. This could potentially negatively impact MITT's stock in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80