India, Oct. 27 -- Ares Capital Corporation (ARCC), a business development company that finances middle-market businesses, said Tuesday it has agreed to acquire MidCap Financial Investment Corporation (MFIC) in a stock-and-cash deal valued at about $2.6 billion.
In premarket trading, MFIC shares jumped more than 23% after closing at $8.36 on Monday, while Ares Capital shares fell 0.60%. after ending the previous session at $18.61.
Under the deal, MFIC stockholders will receive $10.88 per share, consisting of about $1.21 in cash from an Ares Management subsidiary and $9.67 in Ares Capital shares, subject to adjustments for a special dividend. The offer represents a premium of about 30.1% to MFIC's closing share price on October 26.
Before ...