MidCap Financial Investment Corp to merge into Ares Capital Corporation

MidCap Financial Investment Corp announced a definitive agreement to merge with Ares Capital Corporation in a stock-for-stock transaction valued at approximately $641 million, retaining the Ares brand. Market relevance: This $6.6 billion enterprise value merger represents the next step in the consolidation of the business development company (BDC) sector under the Ares name.