October 26, 2009

Willkie acts as asset management regulatory counsel to Ares Capital Corporation.

On October 26, it was announced that Willkie client Ares Capital Corporation and Allied Capital Corporation have entered into a definitive agreement under which Ares Capital will acquire Allied Capital in an all stock transaction currently valued at $648 million, or approximately $3.47 per Allied Capital share. Ares Capital Corporation is a specialty finance company that provides integrated debt and equity financing solutions to U.S. middle-market companies. Both Ares Capital and Allied Capital are business development companies that are regulated under the Investment Company Act of 1940. Willkie acted as asset management regulatory counsel to Ares Capital. The deal was handled by partners Margery Neale and James Silk, and associates Jay Spinola, Michael Spratt and Tate Wilson.

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