Energy News / Shareholders Foundation, Inc.

NASDAQ:MTGE Investor Alert: Investigation of Takeover of MTGE Investment Corp

Via: ReleaseWire

Updated 11:01 AM CDT, Thu, May 10,2018

An investigation on behalf of investors of MTGE Investment Corp. (NASDAQ: MTGE) in connection with the proposed takeover was announced and NASDAQ: MTGE stockholders should contact the Shareholders Foundation.

San Diego, CA -- (SBWIRE) -- 05/10/2018 -- An investigation was announced for investors, who currently hold shares of MTGE Investment Corp. (NASDAQ: MTGE), over the takeover of MTGE Investment Corp. by Annaly Capital Management, Inc.

Investors who purchased shares of MTGE Investment Corp. (NASDAQ: MTGE) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm concerns whether certain directors of MTGE Investment Corp. breached their fiduciary duties owed to NASDAQ: MTGE investors in connection with the proposed acquisition.

Bethesda, MD based MTGE Investment Corp. operates as a real estate investment trust (REIT) in the United States. MTGE Investment Corp. reported that its Net Income increased from $43.66 million in 2016 to $161.33 million in 2017.

On May 2, 2018, Annaly Capital Management, Inc. (NYSE:NLY) and MTGE Investment Corp. (Nasdaq:MTGE) announced the signing of a merger agreement under which Annaly Capital Management, Inc will acquire MTGE Investment Corp. for consideration to be paid in cash and shares of Annaly Capital Management, Inc common stock, which values MTGE Investment Corp. (NASDAQ: MTGE) at $19.65 per share of MTGE Investment Corp. (NASDAQ: MTGE) common stock based upon the closing price of Annaly Capital Management, Inc common stock on April 30, 2018.

However, given that at least one analyst has set the high target price for NASDAQ:MTGE shares at $21.00 per share and given that NASDAQ:MTGE shares traded in the open market following the takeover announcement as high as $19.75 per share on May 8, 2018, the investigation concerns whether the offer is unfair to NASDAQ: MTGE stockholders. More specifically, the investigation concerns whether the MTGE Investment Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.

Shares of MTGE Investment Corp. (NASDAQ: MTGE) closed on May 9, 2018, at $19.38 per share.

Those who are current investors in MTGE Investment Corp. (NASDAQ: MTGE) shares have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

For more information on this press release visit:
http://www.sbwire.com/press-releases/nasdaqmtge-investor-alert-investigation-of-takeover-of-mtge-investment-corp-975792.htm

Media Relations Contact
Michael Daniels
858-779-1554
Email: Click to Email Michael Daniels
Web: http://www.ShareholdersFoundation.com