Annaly Capital Management Inc. (NYSE: NLY) agreed to pay about $720.8 million to own 90 percent of CreXus Investment Corp. (NYSE: CXS).

The deal follows a previously announced acquisition on Jan. 31 in which Annaly increased its stake in CreXus from 12.4 percent to 84.5 percent. Now, it is exercising an option to purchase additional shares, which will give it 90 percent of outstanding shares.

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