Ares Capital agrees to acquire MidCap Financial Investment for $2.6 billion
MFIC•Ares Capital agreed to acquire MidCap Financial Investment in a stock-and-cash transaction valued at approximately $2.6 billion, including debt. Stockholders are expected to receive $10.88 per share, and the deal is expected to close in the first half of 2027, subject to approval and customary conditions.
1. Deal terms
Stockholders are expected to receive $10.88 per share, comprising approximately $1.21 in cash and $9.67 in Ares Capital common stock. A planned pre-closing special dividend will distribute undistributed taxable income and reduce the stock consideration dollar-for-dollar. The price represents premiums of 30.1% to the October 26 closing price and 25.8% to the 30-day volume-weighted average price.
2. Expected closing
The transaction is expected to close in the first half of 2027, subject to stockholder approval and customary conditions.
