Apollo Residential owners approve sale

|About: Apollo Residential Mortgage (AMTG)|By:, SA News Editor

With shareholder approval in hand, the deal for Apollo Commercial Real Estate (NYSE:ARI) to purchase Apollo Residential Mortgage (NYSE:AMTG) is set to close on August 31.

AMTG owners will receive $6.86 in cash and 0.417571 shares of ARI common stock for each share of AMTG they own. That's a value of about $13.64 per share based on current market pricing versus book value of $15.52.

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