180 Degree Capital Evaluates Source Capital's Non-Binding Proposal

Deal News | Jan 29, 2025 | Globenewswire

180 Degree Capital Evaluates Source Capital's Non-Binding Proposal

180 Degree Capital Corp. has announced its board's evaluation of a non-binding acquisition proposal from Source Capital. The proposal, reviewed on January 24, 2025, was determined not to meet the criteria of a TURN Superior Proposal set out in the existing Agreement and Plan of Merger involving Mount Logan Capital Inc. This strategic merger is backed by 180 Degree Capital's board due to anticipated shareholder value creation. Scheduled documents related to the merger, like the Proxy Statement and the Registration Statement, will be filed for shareholder review. Meanwhile, 180 Degree Capital continues to dedicate itself to its investment strategy of engaging in activism with undervalued small-cap companies. Both 180 Degree Capital and Mount Logan have forwarded statements on the anticipated benefits of their merger, which will require regulatory and shareholder approvals before completion.

Sectors

  • Investment Management
  • Mergers and Acquisitions

Geography

  • United States – 180 Degree Capital is based in Montclair, New Jersey, operating within the regulatory environment of the United States.
  • Canada – Mount Logan Capital, also a key participant in the merger discussion, has business activities and regulatory filings in Canada.

Industry

  • Investment Management – 180 Degree Capital operates as a closed-end fund, investing in undervalued publicly traded companies, while Mount Logan Capital is involved in asset management, focusing on debt securities.
  • Mergers and Acquisitions – The article discusses ongoing merger negotiations and proposals involving 180 Degree Capital and Mount Logan Capital.

Financials

    Participants

    NameRoleTypeDescription
    180 Degree Capital Corp.Target CompanyCompanyA registered closed-end fund focused on investing in and providing value-added assistance to small, publicly traded companies.
    Source CapitalBidding CompanyCompanyThe company that issued a non-binding proposal to acquire 180 Degree Capital.
    Mount Logan Capital Inc.Acquirer in Proposed MergerCompanyAn alternative asset management and insurance solutions company focusing on debt securities.
    120 Degree Capital’s Board of DirectorsCompany BoardCompanyThe board responsible for evaluating the acquisition proposals and supporting the merger with Mount Logan.