Annaly Capital Management Inc. recently agreed to purchase the shares of CreXus Investment Corp. (CXS) it doesn't already own for about $872 million, valuing the company at $996 million. Annaly owns 12.4 percent of CreXus and the commercial mREIT is managed by FIDAC, a wholly-owned subsidiary of Annaly. Chimera is similarly managed by FIDAC and Annaly has a similar ownership interest in it. Crexus was to continue pursuing other deals until March 16, so it should update the public on the status of Annaly's bid this week.
Also, last week Chimera Investment Corp. (CIM) filed its 2011 10-K annual report. The mortgage REIT had not filed any reports in several quarters, and in February, the New York Stock Exchange (NYSE) gave the company a third and final extension for continued listing and trading of the company's stock on its exchange. Chimera is yet to file any results for 2012, but is expected to do so within the next two months. After those reports are filed, and provided Annaly successfully acquires CreXus, a bid for Chimera appears of ever growing probability.