When oil prices hit hard times, history suggests that the energy sector will typically respond with a boost in mergers and acquisitions. Currently, with oil’s price down by more than 50 percent since the summer of 2014, M&A activity is cranking up once again.
One prime example of the current revved-up merger trend is the pending union of Ares Management and Kayne Anderson Capital Advisors. The two companies recently announced that they have entered into a definitive merger agreement to create Ares Kayne Management, one of the largest and most diversified alternative asset managers, with a combined $113 billion of assets under management as of March 31, 2015. Under the terms of the agreement, Ares will provide $2.55 billion in consideration, the majority of which will be in the form of Ares Operating Group Units.
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