(Reuters) - The U.S. radio station operator canceled a vote on a lower bid from the buyout groups scheduled for Tuesday, and said it will set a new date after filing a new proxy statement. Under the timetable set, that is likely to take place in August.
Clear Channel had been under shareholder pressure to postpone Tuesday's vote in order to allow Bain and T.H. Lee to raise their bid of $39 a share, or $19.5 billion, to $39.20 a share.
Read more at Reuters.com Mergers News
Clear Channel had been under shareholder pressure to postpone Tuesday's vote in order to allow Bain and T.H. Lee to raise their bid of $39 a share, or $19.5 billion, to $39.20 a share.
Read more at Reuters.com Mergers News
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