Prospect Capital Files Preliminary Proxy Statement With SEC in Opposition to Ares/Allied Merger as Part of Enhanced Bid for Allied Capital
NEW YORK, NY--(Marketwire - February 1, 2010) - Prospect Capital Corporation (NASDAQ: PSEC)
("Prospect") on Friday, January 29, 2010 filed with the Securities and Exchange
Commission a preliminary proxy statement in opposition to the proposed merger
between Allied Capital Corporation ("Allied") and Ares Capital Corporation
("Ares") in furtherance of Prospect's increased proposal to acquire Allied made
on January 26, 2010.
"We believe that our increased merger proposal should not only provide superior
value to Allied shareholders, when compared to the Ares proposal, but also should
provide significant value to Prospect shareholders," said John F. Barry III,
Chairman and CEO of Prospect. "In our view, the credit markets have improved
significantly since October when Allied agreed to merge with Ares. We believe
the significant improvement in the credit markets likely increases the value
of the Allied portfolio since
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