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Stock Market & Financial Investment News

News Breaks
February 11, 2013
08:58 EDTMCGCMCG Capital receives SBA green light letter
MCG Capital Corporation announced the receipt of a green light letter from the U.S. Small Business Administration inviting MCG to continue its application process to obtain a license to form and operate a second Small Business Investment Company. MCG began the application process during 2012 and recently met with the investment committee of the Investment Division of the SBA, which voted to permit MCG to advance to the second part of the process. The receipt of the SBIC application is subject to the approval of the SBA. If approved, the additional license would provide MCG with an incremental source of attractive long-term capital.
News For MCGC From The Last 14 Days
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May 19, 2015
09:25 EDTMCGCHC2 Holdings submits revised merger proposal to MCG Capital
HC2 Holdings (HCHC) announced that it has sent a letter to MCG Capital (MCGC) again proposing that the companies engage in discussions regarding an agreement for HC2 to acquire MCG. 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 $5.25 for each share of MCGC common stock outstanding. The consideration that HC2 is offering in its updated proposal consists of an amount of HC2 common stock valued at $4.75 and 50c in cash, on the terms and conditions described in the proposal. HC2 has delivered what it believes to be a Superior Offer to the PennantPark Transaction.

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