Clear Channel Board Rejects Sweetened Offer From Bidder

CLEAR CHANNEL BOARD REJECTS SWEETENED OFFER FROM BIDDER
[SOURCE: New York Times, AUTHOR: Andrew Ross Sorkin]
Clear Channel Communications, the nation’s largest radio broadcaster, said last night that its board had rejected a revised offer by two equity firms that had agreed to buy the company, but are now trying to keep the deal from falling through. The new offer was a last ditch attempt to save the deal from being voted down by shareholders next week, but now means the buyout is almost certain to be rejected.
http://www.nytimes.com/2007/05/04/business/media/04clear.html
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* Clear Channel Rejects Firms' Revised Offer
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