Ares Capital to Buy MidCap Financial for 2.6B
Ares Capital has agreed to acquire Apollo Global Management backed MidCap Financial Investment in a 2.6 billion dollar stock and cash transaction. The deal enhances Ares direct lending capabilities while offering MidCap shareholders a significant premium.
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Ares Capital will acquire MidCap Financial Investment in a stock-and-cash transaction valued at an enterprise value of $2.6B. The agreement expands the buyer's footprint in direct lending to mid-sized corporate borrowers. Under the terms, target shareholders will receive $10.88 per fully diluted share.
