Apollo Commercial Real Estate Finance, Inc. to Acquire Apollo Residential Mortgage, Inc.

NEW YORK--(BUSINESS WIRE)--Apollo Commercial Real Estate Finance, Inc. (“ARI”) (NYSE:ARI) and Apollo Residential Mortgage, Inc. (“AMTG”) (NYSE:AMTG) today announced the signing of a definitive merger agreement (the “Agreement”) under which ARI will acquire AMTG for consideration to be paid in cash and shares of ARI common stock, which would value AMTG at approximately $14.59 per share of common stock based upon the closing price of ARI’s shares of common stock on February 25, 2016 and assuming AMTG’s book value per share of common stock on December 31, 2015. The value of the consideration represents a premium of approximately 44% to the closing price of AMTG’s shares of common stock as of February 25, 2016.