Starwood Property Trust Confirms That Unconditional Offer For CreXus Will Terminate If CreXus Prices Dilutive Stock Offering
GREENWICH, Conn., March 28, 2011 /PRNewswire/ -- Starwood Property Trust (NYSE: STWD) earlier today announced that it had made an unconditional offer to acquire all of the outstanding shares of common stock of CreXus Investment Corp. (NYSE: CXS) for $14.00 per share. In response to inquiries, Starwood confirmed its earlier statements that its unconditional offer to purchase all of the shares of CreXus would be withdrawn if CreXus prices its dilutive public offering scheduled for today March 28, 2011.
About Starwood Property Trust, Inc.
Starwood Property Trust, Inc. (NYSE: STWD) is a commercial real estate finance company that is focused primarily on originating, investing in, financing and managing commercial mortgage loans and other commercial real estate-related debt investments. Starwood Property Trust, Inc. is externally managed and advised by SPT Management, LLC, an affiliate of Starwood Capital Group, and has elected to be taxed as a real estate investment trust for U.S. federal income tax purposes.
Forward Looking Statements
Statements in this press release which are not historical fact may be deemed forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Although Starwood Property Trust, Inc. believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be attained. Factors that could cause actual results to differ materially from the Company's expectations include (i) our ability to successfully complete any proposed transaction or realize the anticipated benefits of a transaction, (ii) our completion of pending investments, (iii) the future performance of the Barclays assets, (iv) the fluctuation in the market value of our common stock, (v) the risk that the proposed transaction may not be completed in a timely manner, (vi) our continued ability to acquire additional investments and manage our existing investments in a successful manner, (vii) competition within the finance and real estate industries, (viii) economic conditions affecting the finance and real estate industries, including the level and volatility of interest rates (ix) and other risks detailed from time to time in the Company's reports filed with the SEC.
SOURCE Starwood Property Trust