Securities Law Prof Blog

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

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Monday, May 12, 2008

Banks Agree to Fund Clear Channel Buyout at Reduced Price

A settlement is imminent between Wall St. banks and Thomas H. Lee Partners and Bain Capital, the two private equity firms that agreed to buy out Clear Channel Communications.  The buyers sued the banks to force them to fund the deal.  Under the settlement, the banks would fund the deal at $36 per share, down from the previously agreed $39.20.  WSJ, Settlement in Clear Channel Case Imminent.

http://lawprofessors.typepad.com/securities/2008/05/banks-agree-to.html

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