Clear Channel, Banks Finally Make a Deal

Clear Channel and the banks that agreed to finance its highly leveraged buy-out were finally able to hug-it out.

On Tuesday, U.S. radio operator Clear Channel and private equity outfits, Thomas H. Lee Partners and Bain Capital, agreed to a lower sale price of $17.9 billion or $36.00 per share of the radio company.

Investors rallied for the newly bought company. Clear Channel rose 1.6%, or 53 cents during midday trading. Read more from Forbes.com

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