Arthur Penn, Chief Executive Officer of PFLT, said "Through our acquisition of MCGC we have successfully created a larger middle-market senior floating rate capital provider with greater market coverage, access to capital, scale and diversification.
Neu, Chairman of the MCGC Board of Directors, said "We are pleased that our mutually beneficial combination with PFLT has now closed.
Arthur Penn, Chief Executive Officer of PFLT, said "We believe that our proposed transaction with MCGC presents a unique opportunity for value creation and are pleased that each of the leading proxy advisory firms strongly agree.
W]e believe that the PFLT Merger Consideration is financially fair and reasonable to[MCGC's] shareholders.
Neu concluded, "We continue to believe that the merger with PFLT offers MCGC stockholders attractive value for their shares, and the opportunity to continue to own an interest in a company with an attractive and diverse portfolio and the opportunity to resume receiving dividends in respect of their investment.
Following the closing of the transaction, PFLT stockholders are expected to own approximately 56% of the combined company and MCGC stockholders will own approximately 44%.