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Fly News Breaks for February 29, 2016
AMTG, ARI
Feb 29, 2016 | 07:09 EDT
After Apollo Commercial (ARI) agreed to buy residential mortgage REIT Apollo Residential Mortgage, Inc. (AMTG) for total consideration of $641M, JMP Securities says that the deal is a "win-win" for both entities. The firm thinks the deal shows that beaten down REITs can be acquired or draw activist intervention. It keeps an Outperform rating on Apollo Commercial.
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