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Article: Anworth Mortgage Asset Corporation Announces Board Approval of Proposal to Become Internally Managed.
- Article from:
- Business Wire
- Article date:
- April 19, 2002
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Business Editors
SANTA MONICA, Calif.--(BUSINESS WIRE)--April 19, 2002
Anworth Mortgage Asset Corporation ("Anworth") (AMEX: ANH) announced today that it has signed a definitive Agreement and Plan of Merger ("Merger Agreement") for its external manager, Anworth Mortgage Advisory Corporation (the "Manager"), to merge with and into Anworth. The shareholder of the Manager will receive 240,000 shares of Anworth's common stock as merger consideration. After completion of this transaction, Anworth will become an internally managed real estate investment trust.
The Merger Agreement was approved on Thursday, April 18 by a Special Committee consisting ...