InsideArbitrage Event Driven Monitor – October 28, 2026

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MFIC: The acquisition of MidCap Financial Investment Corporation (MFIC) by Ares Capital Corporation (ARCC) for a closing value of $2.60 billion. MFIC stockholders are expected to receive total consideration of $10.88 per fully diluted share of MFIC common stock, consisting of about $1.21 per share in cash, provided by a subsidiary of Ares Management (ARES), and roughly $9.67 per share in Ares Capital common stock, as adjusted for the cash received from MFIC’s special dividend. (Press Release)
ULBI: The acquisition of Ultralife Corporation (ULBI) by EnerSys (ENS) for a closing value of $320 million. EnerSys, through a subsidiary, will commence a tender offer to acquire all of the outstanding shares of Ultralife common stock at a price of $16 per share in cash, representing a 151.57% premium over the stock’s last close. (Press Release)
MG: Mistras (MG) filed a definitive proxy statement. The special meeting of shareholders will be held on November 24, 2026.

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