GE Seals Deal For Merrill’s Lending Unit

General Electric Co. has reached an agreement to buy one of its main competitors in the market to finance mid-sized leveraged buyouts. A formal announcement of GE’s acquisition of the mid-market lending division of Merrill Lynch & Co. is expected later this week, sources told Buyouts.

With the purchase of Merrill Lynch Corporate Finance, GE appears to be cementing its position as the top supplier of senior debt to finance mid-market LBOs. Its Antares unit, built in large part through acquisitions, claims to be the No. 1 provider of senior loans of less than $225 million.

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