Double Digit Gainers: Crexus Investment Corp (NYSE:CXS), Gilead Sciences, Inc. (NASDAQ:GILD)

Annaly Capital Management Inc., a real estate investment trust, is offering to purchase the remaining specialty finance company of Crexus Investment Corp(NYSE:CXS) in lieu of $839 million. Annaly has mentioned that it is ready to pay $12.50 for each share for the stock it does not already own.

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Annaly already owns a 12.4% stake in CreXus. That translates to about 9.5 million shares. CreXus has nearly 76.6 million outstanding shares.

The offer price is an almost 13% premium to CreXus’ closing price as on Friday of $11.10. Shares of CreXus soared by $1.33 to $12.43 in Monday’s session.

Chairman and CEO of Annaly, Wellington Denahan has stated that the buyout offer would provide a chance to branch out part of its investment portfolio.

Denahan said that Annaly may opt for up to 25% of its shareholders’ equity for real-estate assets other than agency securities that are backed by mortgages.

Fixed Income Discount Advisory Co, a subsidiary of Annaly manages CreXus and two workers who are on the company’s board.

Annaly is predicting that CreXus will make a special committee to calculate its offer that is supposed to be made by directors independent of its company.

In other news, Gilead Sciences, Inc.(NASDAQ:GILD) has reported a 100% cure rate in a few patients with the most common type of Hepatitis C.

The mid-stage study has examined 25 patients having genotype 1 chronic Hepatitis C virus infection. They were treated for a span of 12 weeks with a combination of three different drugs: GS-5885, sofosbuvir and ribavirin.

GS-5885 belongs to a prospective new class of drugs known as NS5A inhibitors that stop the hepatitis C virus from replicating.

The infection was undetectable for four weeks after completing therapy in all the patients, who had never received this combination of drugs before.

Gilead has recently begun the first Phase 3 trial evaluating a fixed-dose permutation of sofosbuvir and GS-5885 in patients with genotype 1 chronic hepatitis C virus infection, who were never treated with these drugs before.

Shares of GILD were up 13.72% to $73.93.