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...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.