Clear Channel Deal Approved

[DFWRADIO]

Not meaning to stop the 75 differnt topics about Russ Martin but...

Clear Channel's shareholders have voted overwhelmingly in favor of the $36-a-share buyout of the company.

Just thought I would bring up a new issue.

 

[jasonzbtzl]

buy-out by who??

 

[tah]

buy-out by who??

??? ??? ???

Taken from the home page of this very website -

The Clear Channel go-private deal passes muster with shareholders
97% of the shares that were voted at today's special shareholders meeting approved the $36 a share offer from Bain Capital and Thomas H. Lee Partners. But the number that matters is 74% - because at least two-thirds of all shareholders had to vote "yes" for the deal to go through, under Texas law. One other set of numbers matters, and that's how many shares want to stay in Clear Channel, in the so-called "stub equity." The company reveals that 23.2 million shares chose that option, meaning they'll participate in the new private "CC Media", whose shares will trade over the counter as "CCMOV." Clear Channel's current "CCU" stock was down 12 cents today to $35.50 - but it was an off day for Wall Street generally, and CEO Mark Mays confidently predicts a closing to Bain/Lee on schedule, next Wednesday, July 30. Read the full press release from the afternoon shareholders meeting...