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Is it possible that CC won't go private

K

kaufcom

According to this item in the current edition of Barrons, the CC deal to take the company private is in trouble with some big investors.

Big Holders Tuning Out Clear Channel LBO
By Andrew Bary

THE $26 BILLION LEVERAGED BUYOUT of Clear Channel Communications, the country's largest radio operator, appears to be running into resistance from some institutional shareholders, which could dim chances for shareholder approval of the huge media deal.

No big shareholders have publicly announced their opposition to the buyout, which is being led by private-equity firms Thomas Lee Partners and Bain Capital Partners. But Barron's has learned that at least two sizable institutional shareholders have indicated to Clear Channel (ticker: CCU) that they're inclined to oppose the deal on its current terms.

The deal faces a high hurdle because two-thirds of the ...
 
Interesting. The only reason institutional investors might oppose the deal is that they think the company is worth more than the private investors are offering. They might be right.
 
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