Western Asset Mortgage Capital Says Unsolicited Proposal From AG Mortgage Investment Trust Is Reasonably Expected To Lead To "Parent Superior Proposal"
Portfolio Pulse from Benzinga Newsdesk
Western Asset Mortgage Capital (WMC) has received a non-binding proposal from AG Mortgage Investment Trust (MITT) to acquire WMC. The WMC board has determined that this proposal is reasonably expected to lead to a superior proposal and intends to engage in discussions with MITT. Each outstanding share of WMC common stock would be converted into 1.468 shares of MITT common stock and a cash payment from MITT's external manager.
July 18, 2023 | 8:53 pm
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POSITIVE IMPACT
MITT has proposed to acquire WMC, which could potentially increase the value of MITT shares if the acquisition is successful.
The proposal to acquire WMC could potentially increase the value of MITT shares if the acquisition is successful. This is directly relevant to MITT and important for its shareholders.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
WMC has received an acquisition proposal from MITT, which could lead to a superior proposal. This could potentially increase the value of WMC shares.
The acquisition proposal from MITT could potentially lead to a superior proposal, which could increase the value of WMC shares. This is directly relevant to WMC and important for its shareholders.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100