Apollo Residential Mortgage, Inc. Receives Stockholder Approval to Be Acquired by Apollo Commercial Real Estate Finance, Inc....
August 24 2016 - 8:26AM
Business Wire
Apollo Commercial Real Estate Finance, Inc. (“ARI”) (NYSE:ARI)
and Apollo Residential Mortgage, Inc. (“AMTG”) (NYSE:AMTG) today
announced the common stockholders of AMTG approved the proposed
acquisition of AMTG by ARI at a special meeting of AMTG
stockholders.
Upon the completion of the acquisition, AMTG common stockholders
will receive 0.417571 shares of ARI common stock and $6.86 in cash
for each share of AMTG common stock that they hold, based upon
AMTG’s book value per share of common stock on the pricing date of
$15.52.
The transaction is expected to close on August 31, 2016, subject
to customary closing conditions.
This communication is for informational purposes only and shall
not constitute an offer to sell or the solicitation of an offer to
buy any securities, nor shall there be any sale of securities in
any jurisdiction in which such offer, solicitation or sale would be
unlawful prior to the registration or qualification under the
securities laws of any such jurisdiction.
About Apollo Commercial Real Estate Finance, Inc.
Apollo Commercial Real Estate Finance, Inc. (NYSE:ARI) is a real
estate investment trust that primarily originates, invests in,
acquires and manages performing commercial real estate first
mortgage loans, subordinate financings, commercial mortgage-backed
securities and other commercial real estate-related debt
investments. ARI is externally managed and advised by ACREFI
Management, LLC, a Delaware limited liability company and an
indirect subsidiary of Apollo Global Management, LLC, a leading
global alternative investment manager with approximately $186.3
billion of assets under management at June 30, 2016.
Additional information can be found on ARI’s website at
www.apolloreit.com.
About Apollo Residential Mortgage, Inc.
Apollo Residential Mortgage, Inc. is a real estate investment
trust that invests in and manages residential mortgage-backed
securities and other residential mortgage assets throughout the
United States. AMTG is externally managed and advised by ARM
Manager, LLC, a Delaware limited liability company and an indirect
subsidiary of Apollo Global Management, LLC (NYSE:APO), a leading
global alternative investment manager with approximately $186.3
billion of assets under management at June 30, 2016.
Additional information can be found on AMTG’s website at
www.apolloresidentialmortgage.com.
Forward-Looking Statements
Certain statements contained in this press release constitute
forward-looking statements as such term is defined in Section 27A
of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, and such statements
are intended to be covered by the safe harbor provided by the same.
Forward-looking statements are subject to substantial risks and
uncertainties, many of which are difficult to predict and are
generally beyond ARI’s or AMTG’s control. These forward-looking
statements include information about possible or assumed future
results of ARI’s or AMTG’s business, financial condition,
liquidity, results of operations, plans and objectives. When used
in this release, the words "believe," "expect," "anticipate,"
"estimate," "plan," "continue," "intend," "should," "may" or
similar expressions are intended to identify forward-looking
statements. Statements regarding the following subjects, among
others, may be forward-looking: the return on equity; the yield on
investments; the ability to borrow to finance assets; risks
associated with investing in real estate assets, including changes
in business conditions and the general economy; and expectations
regarding the closing of the mergers and related transactions. For
a further list and description of such risks and uncertainties, see
the reports filed by ARI or AMTG with the SEC. The forward-looking
statements, and other risks, uncertainties and factors are based on
ARI’s or AMTG’s beliefs, assumptions and expectations of its future
performance, taking into account all information currently
available to ARI or AMTG. Forward-looking statements are not
predictions of future events. ARI and AMTG disclaim any intention
or obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise,
except as required by law.
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version on businesswire.com: http://www.businesswire.com/news/home/20160824005667/en/
For investor inquiries:Hilary Ginsberg, 212-822-0767Investor
Relationshmginsberg@apollolp.com
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