TICC Board's Special Committee Reiterates Rejection of TSLX Proposal

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Go back to TICC Board's Special Committee Reiterates Rejection of TSLX Proposal

TICC Capital (TICC) Board Rejects TPG Specialty Lending (TSLX) Bid; Sees as 'Inadequate'

September 21, 2015 8:05 AM EDT

TICC Capital (NASDAQ: TICC) announced that a Special Committee of TICC's Board of Directors reiterated its unanimous rejection of a September 10, 2015 stock-for-stock proposal by TPG Specialty Lending, Inc. (NYSE: TSLX) ("TSLX") as inadequate and not in the best interests of TICC's stockholders.

Steve Novak, the Chairman of a Special Committee of TICC's Board of Directors, said, "TSLX's conditional stock-for-stock proposal, which represents a 13 percent discount to TICC's June 30, 2015 net asset value, is not in the best interests of shareholders. Selling TICC at anything less than net asset value would... More