An investigation for investors in NASDAQ:ACAS shares was announced concerning whether the takeover of American Capital Ltd. by Ares Capital Corporation for $14.95 per share is unfair to NASDAQ:ACAS stockholders.
Investors who purchased shares of American Capital Ltd. (NASDAQ:ACAS) and currently hold any of those NASDAQ:ACAS shares have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 – 1554.
The investigation by a law firm concerns whether certain officers and directors of American Capital Ltd. breached their fiduciary duties owed to NASDAQ:ACAS investors in connection with the proposed acquisition.
On May 23, 2016, Ares Capital Corporation (NASDAQ: ARCC) and American Capital, Ltd. (NASDAQ: ACAS) announced that they have entered into a merger agreement under which Ares Capital will acquire American Capital, excluding American Capital Mortgage Management, LLC Under the terms of the Ares transaction, American Capital shareholders will receive approximately $3.43 billion in total cash and stock consideration or$14.95 per fully diluted share.
However, given that at least one analyst has set the high target price for NASDAQ:ACAS shares at $18.00 per share and that NASDAQ:ACAS shares reached after the takeover announcement in the open markets as high as $15.91 per share, the investigation concerns whether the offer is unfair to NASDAQ:ACAS stockholders. More specifically, the investigation concerns whether the American Capital Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders’ best interests in connection with the proposed sale.
American Capital Ltd. reported that its annual Total Revenue rose from $471 million in 2014 to $671 million in 2015.
Shares of American Capital Ltd. (NASDAQ:ACAS) closed on June 8, 2016, at $15.99 per share.
Those who are current investors in NASDAQ:ACAS shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North – Suite 423
92108 San Diego