Terra Property Trust Delivers Enhanced Merger Proposal To Western Asset Mortgage Capital Corporation; TPT Is Offering WMC Stockholders $15.96 Per Share
Portfolio Pulse from Happy Mohamed
Terra Property Trust (TPT) has submitted an enhanced merger proposal to Western Asset Mortgage Capital Corporation (WMC), offering WMC stockholders $15.96 per share. This proposal is said to deliver superior value compared to the unsolicited offer from AG Mortgage Investment Trust (MITT). TPT's proposal includes larger value on a total and cash basis, lower management fees, and greater certainty of closing. The proposal also includes a performance-based, tiered incentive fee structure, which is superior to the model used by Angelo Gordon.
August 04, 2023 | 1:10 pm
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POSITIVE IMPACT
Western Asset Mortgage Capital Corporation (WMC) has received an enhanced merger proposal from Terra Property Trust, which offers WMC stockholders $15.96 per share. This could potentially increase the stock price of WMC.
The enhanced merger proposal from Terra Property Trust offers a higher price per share to WMC stockholders compared to the unsolicited offer from AG Mortgage Investment Trust. This could potentially increase the stock price of WMC as it indicates a higher valuation of the company.
CONFIDENCE 90
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
AG Mortgage Investment Trust's (MITT) unsolicited offer to Western Asset Mortgage Capital Corporation (WMC) is said to be inferior to the enhanced merger proposal from Terra Property Trust. This could potentially negatively impact the stock price of MITT.
The enhanced merger proposal from Terra Property Trust is said to be superior to the unsolicited offer from AG Mortgage Investment Trust. This could potentially negatively impact the stock price of MITT as it indicates a lower valuation of the company.
CONFIDENCE 80
IMPORTANCE 80
RELEVANCE 80