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CreXus Investment Corporation (CXS)

CXS is defunct.
  • Apr. 17, 2013, 9:09 AM
    Annaly Capital (NLY) and CreXus (CXS) announce the expiration of the tender, with Annaly accepting for purchase 55.2M shares of CreXus for $13.05/share (includes prorated dividend payment). The merger is expected to close on May 23. (PR)
    | Apr. 17, 2013, 9:09 AM | Comment!
  • Mar. 18, 2013, 7:05 AM
    Annaly Capital (NLY) commences its tender all shares of CreXus Investment (CXS) it does not already own for $13/share, plus the prorated portion of any dividend that would have been earned in Q2. Annaly also appoints former Morgan Stanley executive John Schaefer to the board. (PR)
    | Mar. 18, 2013, 7:05 AM | 2 Comments
  • Feb. 7, 2013, 3:13 PM
    The opportunity for CreXus (CXS) from sitting on Annaly's (NLY) far-larger balance sheet should be "exponential" says Annaly CEO Denahan on the earnings call. Annaly is also receiving large principal pay downs each month - money that used to go to new MBS purchases, or (lately) share buybacks, but now can go to the higher-yielding commercial space (the acquisition is not yet a done deal).
    | Feb. 7, 2013, 3:13 PM | 5 Comments
  • Jan. 31, 2013, 7:04 AM
    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)
    | Jan. 31, 2013, 7:04 AM | 5 Comments
  • Nov. 13, 2012, 3:40 PM
    CreXus Investment (CXS) is downgraded to Hold from Buy at Deutsche Bank following Annaly's $12.50 cash bid. Deutsche expects no other bidders will emerge, and the CreXus board will accept the offer. With the stock trading at $12.40, it doesn't leave a lot of upside.
    | Nov. 13, 2012, 3:40 PM | Comment!
  • Nov. 12, 2012, 7:02 AM
    Annaly's (NLY) bid for the rest of CreXus (CXS) - a player in the CMBS market - shows the company is not going to sit on its hands as the Fed's QE obliterates returns in the Agency MBS sector. "We may allocate up to 25% of our shareholders equity to real estate assets other than Agency MBS," says Annaly CEO Wellington Denehan. CXS +12.6% premarket.
    | Nov. 12, 2012, 7:02 AM | 6 Comments
  • Nov. 12, 2012, 6:53 AM
    Annaly Capital (NLY) announces a $12.50 bid to acquire all of the shares of CreXus Investment (CXS) it does not already own. The price represents about a 5% premium to CreXus' Sept. 30 reported book value and a 12.6% premium to Friday's close. Annaly currently owns about 12.4% of the company. (PR)
    | Nov. 12, 2012, 6:53 AM | 1 Comment
Company Description
We are a specialty finance company that acquires, manages, and finances, directly or through our subsidiaries, commercial mortgage loans and other commercial real estate debt, commercial mortgage-backed securities, or CMBS, and other commercial real estate-related assets. We expect that the... More
Sector: Financial
Country: United States