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Clear Channel accepts higher $19.35 billion bid from private equity group

Clear Channel accepts higher $19.35 billion bid from private equity group

Clear Channel Communications Inc. agreed Wednesday to a private equity group's $19.35 billion (euro14.25 billion) offer _ almost 4 percent higher than the group's previous bid.
The offer of $39 per share plus the assumption of $8 billion (euro5.89 billion) in debt raises the price for the billboard and radio company by about $690 million (euro508.21 million). It came the day before a scheduled vote on a lower offer that was facing strong resistance from several large shareholders.


Updated : 2021-10-22 01:57 GMT+08:00