April 26, 2018 / 11:14 AM / 5 months ago

BRIEF-Two Harbors Investment Announces Definitive Agreement To Acquire CYS Investments

April 26 (Reuters) - Two Harbors Investment Corp:

* ANNOUNCES DEFINITIVE AGREEMENT TO ACQUIRE CYS INVESTMENTS, INC.

* TWO HARBORS - BASED ON MARCH 31 ADJUSTED. BOOK VALUES/SHARE, CYS STOCKHOLDERS TO GET $7.79 OF COMBINED CASH & STOCK CONSIDERATION PER SHARE OF CYS STOCK

* TWO HARBORS INVESTMENT - CYS STOCKHOLDERS TO EXCHANGE THEIR SHARES FOR NEWLY ISSUED SHARES OF CO'S STOCKS AS WELL AS CASH CONSIDERATION OF $15 MILLION

* ANTICIPATES THAT ITS CURRENT QUARTERLY DIVIDEND OF $0.47 WILL BE SUSTAINABLE THROUGH 2018

* TWO HARBORS INVESTMENT - FOLLOWING DEAL CLOSE, ALL SENIOR MANAGEMENT POSITIONS WILL CONTINUE TO BE LED BY TWO HARBORS' PERSONNEL

* TWO HARBORS - BOARD WILL BE EXPANDED TO INCLUDE TWO ADDITIONAL INDEPENDENT DIRECTORS FROM CYS INVESTMENTS' CURRENT BOARD

* TWO HARBORS INVESTMENT - WOULD ASSUME EXISTING NOTIONAL $75 MILLION IN CYS 7.75% SERIES A CUMULATIVE REDEEMABLE PREFERRED STOCK

* TWO HARBORS INVESTMENT - WOULD ALSO ASSUME $200 MILLION IN CYS 7.50% SERIES B CUMULATIVE REDEEMABLE PREFERRED STOCK Source text for Eikon: Further company coverage:

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