Photograph by Oleg Prikhodko — Getty Images
By Reuters
May 23, 2016

Ares Capital (ary), a lender to mid-sized companies, said it would buy smaller rival American Capital (acas) in a cash-and-stock deal valued at $3.4 billion.

American Capital shareholders will receive $6.41 per share in cash and 0.483 Ares Capital shares for each share held.

The combined companies would have more than $13 billion in investments at fair value as of March 31, Ares said in a statement.

The deal does not include the sale of American Capital Mortgage Management, which would be sold separately to American Capital Agency for $562 million.


Wells Fargo Securities and Bank of America Merrill Lynch were financial advisers to Ares Capital. Goldman Sachs and Credit Suisse Securities LLC advised American Capital.


You May Like