Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

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Wednesday, March 7, 2007

Shareholders Don't Like Clear Channel Sale

The shareholders' vote on the Clear Channel sale to two private equity firms for $18.7 billion is less than 3 weeks away and appears to be in trouble.  Institutional investors like Fidelity say the price is too low, while the buyers say they can't pay more.  Approval of two-thirds of all shares is required.  See NYTimes, Buyout Bid Becomes Proxy Fight

http://lawprofessors.typepad.com/securities/2007/03/shareholders_do.html

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