MCG Capital Exploring Sale
Commercial finance company MCG Capital announced, based on a thorough business review, the MCG board of directors has determined that it will explore strategic alternatives for the company to maximize value for stockholders, including a possible sale of the company.
MCG said the board has engaged Morgan Stanley as financial advisor and Wachtell, Lipton, Rosen & Katz as legal counsel to assist in the process.
No timetable has been set for the company’s process. MCG does not expect to comment further or update the market with any additional information on the process unless and until its board of directors has approved a specific transaction or otherwise deems disclosure appropriate or necessary.