Clear Channel Is Asked To Reconsider Offer

CLEAR CHANNEL IS ASKED TO RECONSIDER OFFER
[SOURCE: Wall Street Journal, AUTHOR: Sarah McBride sarah.mcbride@wsj.com and Dennis K. Berman dennis.berman@wsj.com]
Shareholders lobbied Clear Channel over the weekend hoping to persuade its board to reconsider a sweetened, $19.35 billion privatization proposal it turned down Thursday. Led by Boston-based Highfields Capital Management, the investment group that spearheaded the new offer along with private-equity companies Bain Capital Partners LLC and Thomas H. Lee Partners LP, some shareholders contacted the company to ask them to put the proposal before shareholders for a vote, or at least take more time to consider it, according to investors.
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