trending Market Intelligence /marketintelligence/en/news-insights/trending/6QI9-jUCIEQ4Ae7EawYgOg2 content esgSubNav
In This List

Ares Capital receives shareholder approval for American Capital deal

Podcast

Street Talk Episode 78: The case to build deposits in a market flush with cash

Podcast

Street Talk Episode 79: More attractive premiums for bank M&A targets coming

Blog

Banking Essentials Newsletter: June Edition, Part - 2

Blog

Insight Weekly: Fed's policy stance; overdrafts under scrutiny; energy stocks rally


Ares Capital receives shareholder approval for American Capital deal

Ares Capital Corp. shareholders approved all proposals for a definitive merger agreement under which the New York-based investment company will acquire American Capital Ltd.

According to an 8-K filing, an overwhelming majority of Ares Capital shareholders at a special meeting approved the issuance of Ares Capital common stock at a price below net asset value per share in the merger. At a separate meeting, a near-unanimous percentage of American Capital's voting shareholders cast their votes in favor of adopting the merger. It came less than six weeks after a group of American Capital shareholders filed a class-action lawsuit seeking to block the pending deal.

The transaction is expected to close as early as the first week of January 2017, Ares Capital said.