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Entries tagged "Clear Channel Communications"Rabble Babble: Clear Channel chatterA settlement may be near for the litigation surrounding Clear Channel Communications Inc.'s $25 billion leveraged buyout. Citigroup Inc., Deutsche Bank AG, Morgan Stanley, Credit Suisse Group, Royal Bank of Scotland Group plc and Wachovia Corp. may agree to fund the buyout for $36 a share as part of a settlement of lawsuits pending in New York and Texas state courts, according to The Wall Street Journal. After the jump is a sampling of the chatter taken from the online message boards. ... PE Pipeline: Clear Channel CommunicationsThe lender group for the buyout of Clear Channel Communications Inc. by affiliates of Bain Capital LLC and Thomas H. Lee Partners LP could fund the $21 billion of debt for the deal any day. Citigroup Inc. and Deutsche Bank AG, the leads for the syndication with Wachovia Bank, Credit Suisse Group, Morgan Stanley and Royal Bank of Scotland Group plc made an offer to commit to funding through binding arbitration April 22 that the sponsors rejected. The banks also argued in a summary judgment hearing in New York Supreme Court that the suit was brought as they were attempting... Rumors pop Clear Channel stockShares of embattled buyout candidate Clear Channel Communications Inc. surged Wednesday morning due to an unconfirmed rumor that the company and equity sponsors Bain Capital LLC and Thomas H. Lee Partners LP were close to a deal with the banks they're suing to get the financing done, according to blog theflyonthewall.com.... Deal Digest: March 28, 2008Stay tuned to TheDeal.com for these stories and more.... Clear Channel moves away from its LBO priceWall Street continues to bet against the $19.5 billion Clear Channel Communications, Inc. leveraged buyout getting done, as investors sent the stock below $33 a share Monday morning -- no where close to the $39.20 per share that stockholders will receive if the deal closes. ... LPs begin wiring in cash for Clear Channel LBOMoney is coming in for the $19.5 billion leveraged buyout of Clear Channel Communications Inc. PEHub reports that Bain Capital LLC's limited partners have begun wiring in capital for the equity portion of the deal. Although things are looking more positive for the deals closing, as both Bain and co-sponsor Thomas H Lee Partners LP put out capital calls, Wall Street remains skeptical. ... PE Pipeline: Strine on specific performanceSpecific performance isn't always all it's cracked up to be. Delaware Vice Chancellor Leo Strine Jr. has noted the practical limitations to the remedy in buyouts where the merger agreement obligates a shell company, but not its buyout parent, to complete a deal in certain circumstances. "Specific performance is a sort of hortatory remedy against the shells to call on some sort of shaming mechanism," the judge said in a Feb. 4 hearing in Alliance Data Systems Corp.'s suit against a Blackstone Group LP subsidiary. "You can't make them [perform] if they don't have moola, ching, whatever the words you... Blog Roll: March 7, 2008Oh it's a beautiful morning. Oh it's a beautiful day because it's Friday. OK, we'll spare you the show tunes and get to to it. Here's the latest news and rumors. Harry Macklowe is in the second round of bidding for the General Motors Building, and bids could top $3 billion, the New York Post reported. Bain Capital LLC has begun making capital calls for its $19.5 billion buyout of Clear Channel Communications Inc., peHUB reports. Microsoft Corp. and Google Inc. reportedly are lining up to kick the tires of user-generated news site Digg Inc., which reportedly hired Allen & Co. to... PE Pipeline: Big questions for Clear Channel buyoutThe big question hanging over the marketing period for the $22.1 billion of debt for the buyout of Clear Channel Communications Inc. by Bain Capital LLC and Thomas H. Lee Partners LP is whether the leveraged transaction can make it through the current market and how hard banks will push back to escape debt commitments. The 25-business-day debt marketing period should end about March 26. Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Credit Suisse Securities LLC, Morgan Stanley, Royal Bank of Scotland plc and Wachovia Bank NA have committed $22.13 billion in financing, including senior secured credit facilities, in... Top tagsYou have executed a tag search on Dealscape. On the left,you will find a comprehensive list of stories tagged "Clear Channel Communications." Below are the most-popular tags for Dealscape. On the right of the page you will find a search box to dig deeper into our content.
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