Clear Channel employees whom I know express extreme confidence that the deal to take the company private will happen. That view probably reflects what's being communicated to them from San Antonio. Many shareholders oppose the deal believing the buyout price is too low. I'm not at all confident it will go through and apparently Clear Channel isn't either.
"Clear Channel pulls out stops for buyout deal
Meena Thiruvengadam
Express-News Business Writer
Own more than 100 shares of Clear Channel Communications Inc. stock?
If you do, chances are you have received a phone call from the company telling you why you should vote in favor of its $18.7 billion buyout proposal.
One shareholder with fewer than 10,000 shares said, "They're really trying to sell this thing." The shareholder, who asked not to be named, said he has never been lobbied to vote for any shareholder measure this aggressively.
Lobbying for shareholder support isn't unusual, said Shirley Westcott, managing director of policy for Proxy Governance, an independent proxy advisory and voting company. In this case, she said, "The company may have concerns that there could be a fair amount of opposition."
http://www.mysanantonio.com/business/stories/MYSA030307.01D.CCU_Opinion.2e3d5c6.html
"Clear Channel pulls out stops for buyout deal
Meena Thiruvengadam
Express-News Business Writer
Own more than 100 shares of Clear Channel Communications Inc. stock?
If you do, chances are you have received a phone call from the company telling you why you should vote in favor of its $18.7 billion buyout proposal.
One shareholder with fewer than 10,000 shares said, "They're really trying to sell this thing." The shareholder, who asked not to be named, said he has never been lobbied to vote for any shareholder measure this aggressively.
Lobbying for shareholder support isn't unusual, said Shirley Westcott, managing director of policy for Proxy Governance, an independent proxy advisory and voting company. In this case, she said, "The company may have concerns that there could be a fair amount of opposition."
http://www.mysanantonio.com/business/stories/MYSA030307.01D.CCU_Opinion.2e3d5c6.html