* Says willing to engage in talks if Allied-Ares deal
* Prospect says Allied unwilling to talk over potential deal
* Prospect up 2 pct, Allied up 3 pct to new yr-high
March 5 Prospect Capital Corp (PSEC.O)
terminated its unsolicited bid to buy rival Allied Capital Corp
(ALD.N), which is selling itself to Ares Capital Corp (ARCC.O),
putting an end to the two month long proxy fight.
The termination follows Allied's plans to declare a
special dividend of 20 cents a share if shareholders approve
its merger deal with Ares. [ID:nSGE6220J9]
Prospect Capital, however, added if the proposed
Allied-Ares deal does not go through and the Allied board was
willing to engage in a productive dialogue, it will be
interested in further talks.
Prospect and Allied were engaged in a bitter war of words
after Allied rejected the initial bid and said it did not see
it as a "superior proposal" over Ares Capital's offer.
Ares Capital has agreed to buy Allied Capital in an
all-stock deal valued at $648 million. [ID:nBNG507417]
(Reporting by Archana Shankar in Bangalore; editing by