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Hatteras Financial (HTS) Stock Jumping on Purchase by Annaly Capital Management

NEW YORK (TheStreet) -- Shares of Hatteras Financial (HTS - Get Report) are getting a boost this morning, up by 9.4% to $15.59, after it was announced that the real estate investment trust will be acquired by rival Annaly Capital Management (NLY) for $1.5 billion in cash and stock.

The deal values Hatteras at $15.85 per share of its common stock based on its closing price on April 8. The transaction is expected to close by the end of the 2016 third quarter.

"We are excited by the opportunity to join the Annaly platform and believe...