AG Mortgage Investment Trust, Inc. entered into a dispute with Terra Property Trust, Inc. for Western Asset Mortgage Capital Corp., the company announced on Thursday. 

AG Mortgage, a pure-play residential mortgage REIT controlled by Angelo Gordon & Co. and owner of mortgage lender ARC Home, made a stock-and-cash offer for its peer Western Asset, managed by Franklin Resources, Inc. 

The publicly traded REIT is offering $9.88 per share, representing $60.5 million in aggregate and an 18.2% premium to Western Asset’s closing stock price as of July 12. The deal values Western Asset at $300 million, including debt.

The bid includes details ⇒

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