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PREMIEUR
Deals
Ares is buying Apollo’s $2.6 Billion lending vehicle
MFIC shareholders will receive $10.88 per share: $1.21 in cash and $9.67 in Ares Capital stock. That is a 30.1% premium to MFIC's 26 October close and 25.8% above its 30-day volume-weighted average price. A special dividend of undistributed taxable income is expected at closing, with the stock component reduced dollar-for-dollar to offset it.
The headline premium is measured against a depressed share price. Against book value, the picture reverses:...
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