Ares Capital (ARCC +7.2%) says it's buying Allied Capital (ALD +26.4%) in a $648M all-stock...

|About: Ares Capital (ARCC)|By:, SA News Editor

Ares Capital (ARCC +7.2%) says it's buying Allied Capital (ALD +26.4%) in a $648M all-stock deal. The $3.47/share (0.325 Ares share) offer is a 27% premium to Friday's close. Allied had been shedding assets to pay down debt and fight liquidity concerns.