Shares of First Eagle Alternative Capital BDC, Inc. (FCRD) are rallying more than 33% Tuesday morning after the company announced its decision to be acquired by Crescent Capital BDC, Inc. (CCAP) in a cash and stock deal.
Crescent Capital BDC is a non-diversified management investment company.
The combined company, which will remain externally managed by Crescent Cap Advisors, LLC, a subsidiary of Crescent Capital Group , is expected to have about $1.6 billion of investments on a pro forma basis, Crescent Cap said.
The deal is scheduled to close by the fourth quarter of 2022.
FCRD is at $3.90 currently. It has traded in the range of $2.74-$4.89 in the last 1 year.
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May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.