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Ares Capital Corporation Agrees to Acquire MidCap Financial Investment Corporation

Ares Capital Corporation has agreed to acquire competitor MidCap Financial Investment Corporation in a transaction valued at approximately $2.6 billion. The acquisition involves a mix of cash and stock, with consideration set at $10.88 per MidCap share. Following the announcement, MidCap Financial Investment Corporation shares surged, rallying roughly seventeen percent. MidCap also cancelled its scheduled earnings conference call due to the pending acquisition agreement. The deal reflects ongoing industry consolidation within the private credit sector as major players expand their market footprints.

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  • ✓ Ares Capital Corporation agreed to acquire MidCap Financial Investment Corporation in a deal valued at approximately $2.6 billion.
  • ✓ The transaction consideration is set at $10.88 per MidCap share, split between cash and Ares Capital stock.
  • ✓ MidCap Financial Investment Corporation shares rallied seventeen percent following the news.
  • ✓ MidCap Financial Investment Corporation cancelled its earnings conference call due to the pending acquisition.
🛡️ Source Corroboration: 12 independent reporting domains (100% confidence) ⏱ Read time: ~2 min

What changed

Ares Capital Corporation officially announced an agreement to acquire MidCap Financial Investment Corporation in a $2.6 billion cash-and-stock transaction.

Live updates

  1. Ares Capital Agrees to Acquire MidCap Financial in $2.6 Billion Deal

    Ares Capital Corporation has agreed to acquire competitor MidCap Financial Investment Corporation in a transaction valued at approximately $2.6 billion. The acquisition involves a mix of cash and stock, with consideration set at $10.88 per MidCap share. Following the announcement, MidCap Financial Investment Corporation shares surged, rallying roughly seventeen percent. MidCap also cancelled its scheduled earnings conference call due to the pending acquisition agreement. The deal reflects ongoing industry consolidation within the private credit sector as major players expand their market footprints.

    Why it matters

    The acquisition unites two major entities in the private-credit and middle-market financing space, with MidCap Financial Investment Corporation previously backed by Apollo. Industry consolidation continues to shape the direct lending sector as major funds scale up their operations. The transaction follows a busy third quarter for Ares Management, which closed approximately $6.3 billion in new U.S. direct lending commitments across fifty-five transactions.

    What is confirmed

    • Ares Capital Corporation agreed to acquire MidCap Financial Investment Corporation in a deal valued at approximately $2.6 billion.
    • The transaction consideration is set at $10.88 per MidCap share, split between cash and Ares Capital stock.
    • MidCap Financial Investment Corporation shares rallied seventeen percent following the news.
    • MidCap Financial Investment Corporation cancelled its earnings conference call due to the pending acquisition.

    What to watch next

    • Regulatory approvals and closing conditions for the Ares Capital and MidCap transaction
    • Shareholder votes and finalization of the cash-and-stock distribution details
    Sources used for this update (14)
    1. www.rttnews.com — mergers & acquisitions
    2. github.com — nocache/README at master · Feh/nocache · GitHub
    3. classic.yarnpkg.com — nocache - Yarn
    4. developer.mozilla.org — Cache-Control header - HTTP | MDN - MDN Web Docs
    5. github.com — GitHub - helmetjs/nocache: Middleware to disable client-side...
    6. Business Wire — Ares Capital Corporation Agrees to Acquire MidCap Financial Investment Corporation
    7. WSJ — Ares Private-Credit Fund to Buy Competitor From Apollo
    8. Bloomberg — Ares Capital Agrees to Buy MidCap Financial in $2.6 Billion Deal
    9. Reuters — Ares Capital seals $2.6 billion deal for Apollo's MFIC as consolidation continues
    10. Seeking Alpha — Ares Capital to acquire MidCap Financial for $2.6B in cash and stock; MFIC rallies 17% (ARCC:NASDAQ)
    11. www.rttnews.com — Ares Capital To Acquire MidCap Financial Investment In $2.6 Bln Deal; MFIC Shares Surge - RTTNews
    12. digg.com — Ares Capital agrees to buy Apollo’s MidCap in $2.6 billion enterprise-value deal · Digg
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