BURLINGTON, Mass., Dec. 15, 2014 (GLOBE NEWSWIRE) -- MicroFinancial Incorporated (Nasdaq:MFI) ("MicroFinancial" or the "Company") has entered into a definitive agreement with MF Parent LP ("Parent") and MF Merger Sub Corp. ("Purchaser"), each an affiliate of funds managed by affiliates of Fortress Investment Group LLC (NYSE:FIG), whereby Parent will acquire all of the outstanding shares of the Company for $10.20 per share in cash pursuant to an Agreement and Plan of Merger dated December 13, 2014 (the "Merger Agreement"). Under the terms of the Merger Agreement, Purchaser will commence a tender offer for all shares of outstanding common stock of the Company for $10.20 per share in cash (the "Tender Offer"). The Tender Offer will expire on the 20th business day following and including the commencement date, unless extended in accordance with the terms of the Merger Agreement and the applicable rules and regulations of the Securities and Exchange Commission. The Company presently intends, subject to approval of the Company's Board of Directors at the time, to declare a single quarterly cash dividend on its common stock in an amount expected to be $0.08 per share with a record date that is no later than January 12, 2015 and a payment date that is on or prior to the time of acceptance of shares of the Company's common stock in the Tender Offer. Following the completion of the Tender Offer, the parties will complete a second-step merger in which any remaining shares of the Company's common stock will be converted into the right to receive the same price per share paid in the Tender Offer (the "Merger"). The announcement follows a comprehensive review undertaken by the Company's Board of Directors to maximize shareholder value. The Company's Board of Directors unanimously approved the Merger Agreement and unanimously recommends that the Company's shareholders tender their shares in the Tender Offer.