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ARCC

Ares Capital

$15.16

-0.08 (-0.52%)

, ACAS

American Capital

$16.86

-0.02 (-0.12%)

08:01
10/18/16
10/18
08:01
10/18/16
08:01

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.

ARCC

Ares Capital

$15.16

-0.08 (-0.52%)

ACAS

American Capital

$16.86

-0.02 (-0.12%)

  • 02

    Nov

ARCC Ares Capital
$15.16

-0.08 (-0.52%)

05/24/16
DADA
05/24/16
NO CHANGE
DADA
Ares Capital acquisition positive for shareholders, says DA Davidson
After Ares Capital (ARCC) announced an agreement to acquire American Capital (ACAS),DA Davidson says the deal will improve Ares' dividend coverage. The firm says that Ares has a record of making good investments and successfully integrating large BDCs. The firm keeps a Buy rating on Ares.
06/28/16
NSCC
06/28/16
INITIATION
Target $16
NSCC
Neutral
Ares Capital initiated with a Neutral at National Securities
National Securities initiated Ares Capital with a Neutral and $16 price target due to valuation.
07/22/16
RHCO
07/22/16
NO CHANGE
RHCO
Ares Capital named Top Pick at SunTrust
SunTrust named Ares Capital as its top pick, citing what it sees as potential positive catalysts from the company's acquisition of American Capital in 2018 and beyond. The firm says that Ares' valuation is attractive, and it keeps a Buy rating on the shares.
08/05/16
OPCO
08/05/16
NO CHANGE
OPCO
Oppenheimer goes to Not Rated on American Capital Senior Floating
Oppenheimer analyst Chris Kotowski went to Not Rated on American Capital Senior Floating (ACSF) from his previous Outperform rating, citing the company's announced acquisition by Ares Capital (ARCC) that is expected to close in 2017.
ACAS American Capital
$16.86

-0.02 (-0.12%)

11/30/15
11/30/15
NO CHANGE

American Capital estimates raised at Sterne Agee CRT
Sterne Agee CRT raised its 2016 and 2017 EPS estimates for American Capital to $1.75 and $2, from $1.45 and $1.55, respectively. As reasons for the increase, the firm cited the company's decision to raise its share buyback expenditures, as well as the firm's belief that the company will improve its operating efficiency. After the company announced that it would evaluate strategic alternatives, Sterne Agee CRT thinks the company can increase shareholder value by proceeding with its planned spin or by instituting a dividend. The firm keeps an $18 price target and Buy rating on the shares.
02/18/16
WELS
02/18/16
NO CHANGE
WELS
American Capital can be acquired for $16 per share, says Wells Fargo
Wells Fargo believes that American Capital could be acquired for $16 per share, based on what Wells calls "conservative assumptions" about its assets. The firm says that one buyer will probably buy core American Capital and another will buy its ACAM unit, since the combined company may be too big for one buyer to deal with. Wells keeps an Outperform rating on the shares.
08/04/16
JPMS
08/04/16
DOWNGRADE
Target $17.5
JPMS
Neutral
American Capital downgraded to Neutral from Overweight at JPMorgan
JPMorgan analyst Richard Shane downgraded American Capital to Neutral citing the company's impending merger with Ares Capital. The analyst has a $17.50 price target for the shares.

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