Dissident shareholder FrontFour agrees a term sheet with Medley Capital and gets to appoint two directors to the Board. The BDC Reporter dissects the press release announcing this dramatic twist in the Medley story.
Two more lawsuits come to light in the Medley merger battle that could drastically affect the outcome but which are not getting much in the way of attention except in the BDC Reporter.
A well known coal company emerges from Chapter 11 owned by its creditors, which seems to include three BDCs with approximately $60mn of debt now converted to equity.
Institutional Shareholder Services seems to have turned its thumb down – for a second time – on the three way Medley company merger, according to a dissident shareholder. We annotate, analyze and throw out a couple of warnings you may not be expecting.
Medley Capital and Sierra Income have rejected NexPoint Capital’s offer to serve as their Investment Advisor, along with several other proffered benefits. The sometime-in-March shareholder vote on the three way Medley merger now looms larger than ever.
The week ahead promises to be jam packed, with the challenge to the Medley merger center stage. But not let’s forget the flurry of earnings releases from ten BDCs and week seven of the market rally.
Hours after NexPoint offered to become Medley Capital and Sierra Income external manager comes a response…The plot thickens and the possible outcomes ever more complex and with major implications for managers and shareholders at three companies.