Mergers & Acquisitions ·
Ares Capital agrees to acquire MidCap Financial for $2.6B in cash and stock
MFICMidCap Financial Investment Corp
Ares Capital Corporation has entered into a definitive merger agreement to acquire MidCap Financial Investment Corporation in an all-stock-and-cash transaction valued at approximately $2.6 billion. Under the terms, MFIC shareholders will receive total consideration of $10.88 per fully diluted share, consisting of $1.21 in cash and shares of Ares Capital common stock worth approximately $9.67. The deal represents a 30.1% premium to MFIC's last closing price and is expected to close in the first half of 2027, subject to shareholder approval and regulatory conditions. MidCap Financial Investment Corporation operates as a business development company investing in middle-market companies.