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Clear Channel $17.9 Billion Buyout Print E-mail
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Written by Mike Stahl   
Wednesday, 14 May 2008 20:40
Clear Channel has announced its sale to private equity firms Bain Capital Partners and Thomas H. Lee Partners, for $17.9 billion or $36 per share -- ending litigation between Clear Channel, the private equity firms and a consortium of banks funding the deal. The original value of the deal was $39.20 per share in October 2007, but the banks involved later got cold feet in light of the current credit climate, and the private equity firms sued to enforce the agreement. Add a comment
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