Securities Law Prof Blog

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

Wednesday, April 18, 2007

Clear Channel's Bid May Be Raised

The equity firms that want to buy Clear Channel Communications are expected to announce today that they have increased their bid by about $1.5 billion to $27.6 billion.  Some institutional shareholders have previously expressed dissatisfaction with the price, and Glass Lewis recommended rejection of the offer.  The shareholder vote is scheduled for tomorrow, but may be postponed in light of the price increase.  See NYTimes, Clear Channel Is Said to Get Raised Bid

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