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InsideArbtirage Potential Deal Alert: AG Mortgage Investment Trust (MITT) Submits Offer to Acquire Western Asset Mortgage (WMC)

  • July 23, 2023


StockWestern Asset Mortgage Capital CorporationSymbolWMC
Date Announced07/13/2023Source Press Release
TypeUnsolicited BidAcquiring Company/Person AG Mortgage Investment Trust, Inc.
Date of Confirmation: 08/09/2023Price at Confirmation: $10.57
Potential Profit: 16.80%Annualized Profit: 227.05%

AG Mortgage Investment Trust, Inc. (MITT) announced that it submitted a proposal to the Board of Directors of Western Asset Mortgage Capital Corporation (WMC) to acquire WMC for a fixed exchange ratio, representing an implied price of $9.88 per share, consisting of a stock consideration of $8.90 per share and cash consideration of $0.98 per share.


July 18, 2023: Western Asset Mortgage Capital Corporation (WMC) announced that WMC’s board of directors has determined after consultation with its financial advisors and outside legal counsel, that the unsolicited proposal from AG Mortgage Investment Trust (MITT) to acquire WMC is expected to lead to a “Parent Superior Proposal”.

July 28, 2023: Western Asset Mortgage Capital Corporation (WMC) board determines AG Mortgage Investment Trust, (MITT) proposal is superior to Terra Property Trust (TPTA) Merger Agreement.

Disclaimer: Our intent with this section of the website is to present potential deals that appear to be in the pipeline. These potential deals are ones where i) the company has indicated that it is "seeking strategic alternatives", ii) there has been an unsolicited bid for a company as mentioned in a press release by the company or iii) news about the deal has been published by a leading news organization like The Wall Street Journal, The New York Times, Bloomberg, Financial Times, The Washington Post, Reuters and The Associated Press. As best as possible we will try to avoid baseless rumors. There is a high probability that many of these potential deals may not materialize and if they do, the terms of the deal may be different from what was initially reported. Please do your own due diligence before buying or selling any securities mentioned on this website. We do not warrant the completeness or accuracy of the content or data provided.