No, the solution for investors is to own better and best of breed BDCs. Dump FSC, MCC, PSEC... they are NOT better of breed or best of breed. High yields with negative returns on capital translate into total returns so low you cannot justify owning a BDC. Better and best of breed did not cut dividends and they have capital growth for superior total returns. Better to take a lower yield and better total return potential than FSC, MCC, or PSEC.
EPD should buy so they can gather up all those fractionators in the gulf and Louisiana in addition to a lot of assets that EPD can easily do bolt-on to their existing systems. EPD has to get into the game using their currency even though weakened and cash if necessary to acquire something big. MWE was easy to acquire because no GP. I don't expect GEL to be independent that much longer for that reason. An EPD/GEL merger would not be a big surprise either.
It may be that a lot of sellers do not want to incur the tax consequences of this transaction not knowing the tax consequences may have been baked in for accrual accounting purposes already. I believe management is fully aware of timetables and the gap they must fill and I believe they will carefully assess the next steps before moving forward.
Dude, you should let your mommy run your money if you are going to be so emotional as to suggest that a management team that has destroyed so much shareholder value believes in anything at all beyond their external mgmt. fees which are a function of outstanding share count regardless of book value and the simple fact that the best investment return for PSEC shareholders would in fact be a big share buyback rather than yet another lame high risk loan.