HC2 Proposes Merger With MCG Capital Corporation
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Hc2 Holdings (HCHC) Proposes $5/Share Takeover of MCG Capital (MCGC)
May 4, 2015 8:44 AM EDTHc2 Holdings (NYSE: HCHC) has sent a letter to MCG Capital Corporation (Nasdaq: MCGC) proposing that the companies immediately engage in discussions regarding an agreement to combine the companies. HC2's proposal is to acquire 100% of the common stock of MCGC on a fully-diluted basis in a cash and stock transaction in which stockholders of MCGC would receive $5.00 for each share of MCGC common stock outstanding. The consideration that HC2 is offering consists of (a) at the option of the MCG stockholders, either (i) .434 of a... More
