Source Pravda.Ru

Clear Channel Communications' deal to go private may collapse

Clear Channel Communications’ plans to go private may fall through.

On November 16, 2006, Clear Channel announced that it would sign a deal to be bought out by two private-equity firms, Thomas H. Lee Partners and Bain Capital Partners for $18.7 billion, which is just under a 10 percent premium above its closing price of $35.36 a share on November 16.

The deal was to be signed in 2007, but there were still some disagreements. The current offer by Thomas H. Lee and Bain Capital Partners is $39.20 a share, thus making a deal $19 billion worth.

But the upcoming deal may cease to exist at all due to credit terms those private-equity firms were trying to put into place to finance the transaction.

Photo: www.delcowire.com

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