CreXus Investment Corp. (CXS) announced Monday morning that it agreed to be acquired by Annaly Capital Management (NLY). Annaly proposes to acquire all the CreXus shares it does not already own for $12.50 per share in cash.
CreXus Investment gapped open sharply higher Monday, but moved in a narrow range for the majority of the session. The stock closed up by 1.33 at $12.43 on the highest volume of the year. CreXus Investment surged past resistance and set a new high for the year.
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