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CreXus (CXS) shareholders wake up to a nice surprise, with the board accepting a raised buyout...

CreXus (CXS) shareholders wake up to a nice surprise, with the board accepting a raised buyout offer from Annaly (NLY) - $13/share in cash from $12.50 previously. The company has 45 days to solicit and review offers from other parties, and Annaly will not add to its 12.4% stake in CreXus during this period. (PR)
Comments (5)
  • TwistTie
    , contributor
    Comments (2477) | Send Message
     
    So we wait.
    31 Jan 2013, 07:24 AM Reply Like
  • investing4me
    , contributor
    Comments (26) | Send Message
     
    I have owned both stocks since August 2011 and DRIP the dividends on each... I obviously bought NLY too high but my cost basis w/DRIP is $15.18 a share, a -1.49% loss. But my CXS is $8.00 a share, a 56.22% gain.

     

    So I am excited and looking forward to the combined company barring any other offers.
    31 Jan 2013, 09:11 AM Reply Like
  • Clemens Scholl
    , contributor
    Comments (624) | Send Message
     
    Their board is totally crooked.
    In March 2011 they rejected a $14 bid from Starwood ( http://bit.ly/Xo57Hd ) and now they accept a $13 bid from their parent?
    31 Jan 2013, 11:59 AM Reply Like
  • bullsmitty
    , contributor
    Comments (2) | Send Message
     
    any smart people on here see a potential for other suitors?
    31 Jan 2013, 12:29 PM Reply Like
  • linkdonald
    , contributor
    Comments (477) | Send Message
     
    I too bot NLY too high but dividends have compensated. I am not at all satisfied that the bid for CXS is in my best interests; especially the enhanced offer. The stated reasons by NLY for this purchase are not completely clear as other routes to diversify are open to them especially since their reputation would enable them to negotiate any number of favorable deals.
    31 Jan 2013, 09:07 PM Reply Like
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