A Capital Raise in Acquisition Clothing? Reviewed by Momizat on . M&A is an infrequent occurrence among business development companies (BDCs). “Under the external management model, the opportunity for material cost savings is M&A is an infrequent occurrence among business development companies (BDCs). “Under the external management model, the opportunity for material cost savings is Rating: 0
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A Capital Raise in Acquisition Clothing?

BDC-Mergers

M&A is an infrequent occurrence among business development companies (BDCs). “Under the external management model, the opportunity for material cost savings is limited, and prices at or near NAV indicate that investors assign little ‘franchise’ value to the lending and origination platforms.” Travis W. Harms, of Mercer Capital’s Financial Reporting Valuation Group, discusses the recent acquisition of MCG Capital (MCGC) by PennantPark Floating Rate Capital Ltd. (PFLT) and how it is “likely the exception that proves the rule.”

Find out more in the Mercer Capital’s Financial Reporting article, A Capital Raise in Acquisition Clothing?

This article is republished from Mercer Capital’s Financial Reporting Blog. It is reprinted with permission. To subscribe to the blog, visit http://mercercapital.com/category/financialreportingblog/.

The National Association of Certified Valuators and Analysts (NACVA) supports the users of business and intangible asset valuation services and financial forensic services, including damages determinations of all kinds and fraud detection and prevention, by training and certifying financial professionals in these disciplines.

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