Ares Capital To Buy Allied In $648M Stock Deal

Law360, New York (October 26, 2009, 3:15 PM EDT) -- Ares Capital Corp. says it will acquire Allied Capital Corp. in a $648 million all-stock deal that will hand Ares stockholders control of about 65 percent of the combined company.

Allied stockholders will own about 35 percent, and Allied would be valued at about $3.47 per share, the companies said in a statement Monday announcing the buy.

The share price represents a 27 percent premium on Allied's closing stock price on Friday. Both companies' boards of directors unanimously approved the transaction, which was expected to be...
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