Securities Law Prof Blog

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

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

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