| 2016-10-18 08:01:35|
ARCC, ACAS 08:01 10/18 10/18/16
Ares Capital, American Capital to hold investor meetings for adoption of merger
Ares Capital Corporation (ARCC) and American Capital, Ltd. (ACAS) have announced the scheduling of meetings of their respective stockholders to be held on December 15, 2016 to seek adoption of the merger agreement, which is necessary to complete the mergers, and approval of certain other matters from such stockholders. Each company's common stockholders of record as of the close of business on October 17, 2016 are entitled to vote at their respective meetings. The companies also announced that ARCC's registration statement on Form N-14, which includes a joint proxy statement of ARCC and ACAS and a prospectus of ARCC, has been declared effective by the SEC. The joint proxy statement/prospectus is first being mailed or otherwise delivered to stockholders on or about October 18, 2016. The joint proxy statement/prospectus contains important information about the proposed merger transaction, the merger agreement and the proposals to be considered at the stockholder meetings. Both ARCC's and ACAS's boards of directors, including the independent directors, unanimously recommend that their respective stockholders vote "FOR" adoption of the merger agreement, which is necessary to complete the mergers, and approval of related matters. The companies expect the transaction to close as early as the first week of January 2017, assuming receipt of the necessary stockholder approvals at the stockholder meetings, the receipt of certain third party consents and the satisfaction of other customary closing conditions.