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Source: Radio & RecordsClear Channel Communication's merger adoption agreement was approved by shareholders at a special shareholder meeting on Tuesday morning (Sept. 25). Though still subject to regulatory approval, Clear Channel will be acquired by CC Media Holdings (co-led by Thomas H. Lee Partners and Bain Capital) for $39.20 per share, or $19.5 billion.
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Clear Channel Communications entered into a second amendment to its previously announced merger agreement with a private equity group co-led by Thomas H. Lee Partners, L.P. and Bain Capital Partners, LLC on May 18. Under the terms of the merger agreement, as amended, Clear Channel shareholders will receive $39.20 in cash for each share they own plus additional per share consideration, if any, if the closing of the merger occurs after Dec. 31, an increase from the previous cash consideration of $39.00 per share. Read more: http://www.radioandrecords.com/RRWebSite/ |
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