CC Funding In Place, Closing Expected By End Of Q3
May 28, 2008 at 6:15 PM (PT)
CLEAR CHANNEL said WEDNESDAY that full funding for its buyout by BAIN CAPITAL and THOMAS H. LEE PARTNERS has been put into escrow with the BANK OF NEW YORK and that the deal is expected to close by the end of third quarter 2008 pending shareholder approval. The amended deal is for $36 per share.
"All of our financing is liquid and ready to deploy as soon as shareholders approve the amended merger agreement," said CEO MARK MAYS.