After several delays, Clear Channel Communications has finally scheduled a special shareholder meeting and vote on its private-equity buyout for Sept. 25, the company announced Tuesday. As the deal
currently stands, the proposed buyout by Bain Capital Partners and Thomas H. Lee Partners would pay out $39.20 per share, in a total transaction worth $19.6 billion. This price was the result of
repeated rejections and negotiations with some of the company's largest institutional shareholders, who viewed earlier offers as too low. The meeting was delayed several times as a result.
--Erik Sass
