finance.yahoo.com

Cherry Hill Mortgage signs $117.5M deal at 29% premium with MITT

TPG Mortgage Investment Trust logoTPG Mortgage Investment Trust
Sig2.86Sen+3.49Env0.00Soc+0.07Gov+1.03

Cherry Hill Mortgage agreed to merge with MITT under which CHMI shareholders receive 0.3063 MITT shares plus $0.93 cash per share, valuing the deal at about $117.5 million (29% premium). About 30% of consideration is cash, and CHMI holders retain roughly 27% of the combined company. The agreement cites operating efficiencies, 2027 accretion, higher scale, and improved leverage and liquidity.

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