AcquisitionOct 27, 2026Pending
Hot🇺🇸 United States
MFMidCap Financial Investment CorporationACAres Capital Corporation
Financial Institutions › Specialty Finance & Fintech
Enterprise value$2.6BEnterprise value
AnnouncedOct 27, 2026
ConsiderationCash and stock
StructureOne-step merger
RegionNorth America
Cross-borderNo
Contingent paymentYes
Overview
Ares Capital Corporation agreed to acquire MidCap Financial Investment Corporation in a stock-and-cash transaction for a total enterprise value of approximately $2.6 billion, with MFIC stockholders to receive $10.88 per share, consisting of approximately $1.21 in cash and approximately $9.67 in Ares Capital common stock, as adjusted for a special dividend.
Deal rationale
The transaction is expected to be accretive to Ares Capital's core earnings, support future dividends, and enhance scale, diversification, and market presence to strengthen its position as the largest publicly traded BDC and Ares Management's leading U.S. direct lending platform.
AI-generated from the SEC filingPendingFinancial Institutions › Specialty Finance & FintechUnited StatesNorth America
Timeline
Valuation and terms
| Equity value | Undisclosed | |
|---|---|---|
| Enterprise value | $2.6B | Headline figure |
| Consideration | Cash and stock |
Advisors
Buy-side
WFWells Fargo
Sell-side
MMoelis & Company
Parties
Target
MFMidCap Financial Investment Corporation
- Headquarters
- United States
- Ticker
- MFIC
Acquirer
ACAres Capital Corporation
- Headquarters
- United States
- Ticker
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