Wunderlich Securities Upgrades American Capital Agency (AGNC) to Buy
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Ares Management (ARES) Will Aid Ares Capital's (ACAS) Acquisition of American Capital
May 23, 2016 8:15 AM EDTAres Management, L.P. (NYSE: ARES) announced today that it is providing financial support to Ares Capital Corporation (Nasdaq: ARCC), the largest business development company in the U.S., for its acquisition of American Capital, Ltd.
As described in a joint press release today announcing the definitive merger agreement, Ares Capital will acquire American Capital for aggregate cash and stock consideration of $3.43 billion. Ares Capitals acquisition includes financial support from Ares Management, through its subsidiary Ares Capital Management LLC (the investment adviser to Ares Capital) of $275... More
American Capital Agency (AGNC) to Acquire American Capital Mortgage Management
May 23, 2016 7:51 AM EDTAmerican Capital Agency Corp. (Nasdaq: AGNC) announced that it has entered into a definitive transaction agreement to acquire American Capital Mortgage Management, LLC ("ACMM") from American Capital Asset Management, LLC ("ACAM"), a wholly-owned portfolio company of American Capital, Ltd. ("ACAS") (Nasdaq: ACAS). ACMM is the parent company of both American Capital AGNC Management, LLC ("AGNC Manager"), the external manager of AGNC, and American Capital MTGE Management, LLC ("MTGE Manager"), the external manager of American Capital Mortgage Investment Corp. ("MTGE") (Nasdaq: MTGE). The... More
American Capital Mortgage Investment (MTGE) Affirms Acquisition of MTGE Manager (ACAS)
May 23, 2016 7:49 AM EDTAmerican Capital Mortgage Investment Corp. (Nasdaq: MTGE) announced that American Capital Agency Corp. (Nasdaq: AGNC) has entered into a definitive transaction agreement to acquire MTGE's external manager, American Capital MTGE Management, LLC ("MTGE Manager") from American Capital Asset Management, LLC ("ACAM"), a wholly-owned portfolio company of American Capital, Ltd. ("ACAS"). Under the terms of the transaction agreement, AGNC will acquire American Capital Mortgage Management, LLC ("ACMM"), which is the parent company of MTGE Manager. Following the closing of the transaction, MTGE Manager, as an indirect subsidiary of AGNC,... More
Ares Capital (ARCC) to Acquire American Capital (ACAS) in $3.4B Deal
May 23, 2016 7:45 AM EDTAres Capital Corporation (Nasdaq: ARCC) and American Capital, Ltd. (Nasdaq: ACAS) announced that they have entered into a definitive merger agreement under which Ares Capital will acquire American Capital, excluding American Capital Mortgage Management, LLC. This transaction enhances Ares Capital's position as the leading business development company in the United States and a leading direct lender to middle market companies. The combined company would have on a pro forma basis more than $13 billion of investments at fair value as of March 31, 2016. The Boards of Directors of both companies... More
