The L.A. Times reports that while Clear Channel has accepted a higher bid from Thomas H. Lee Partners and Bain Capital Partners - one worth about $19.5 billion, or 4% more than before - the deal is "far from complete."
The L.A. Times reports that while Clear Channel has accepted a higher bid from Thomas H. Lee Partners and Bain Capital Partners – one worth about $19.5 billion, or 4% more than before – the deal is “far from complete.”
Major shareholders Fidelity Investments and Highfields Capital Management, the first- and third-largest stakeholders, reportedly will vote against the offer on May 8, the newspaper said.
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