Western Asset Mortgage announces ISS recommendation for AG Mortgage merger

Western Asset Mortgage announced that proxy advisory firm Institutional Shareholder Services, or ISS, recommends that stockholders vote for the proposed merger with AG Mortgage Investment Trust, in which each outstanding share of WMC common stock will be converted into the right to receive 1.498 shares of MITT common stock and the per share portion of a cash payment equal to the lesser of $7M or approximately 9.9% of the aggregate per share merger consideration. Any difference between $7M and such smaller amount will be used to benefit the combined company post-closing by offsetting reimbursable expenses that would otherwise be payable to AG REIT Management, LLC, which would be the manager of the combined company.