RUMOR MILL
The banks’ settlement offer was seen by shareholders as a sign they are trying desperately to avoid a trial after the private equity firms sued them in Texas and New York.
Wednesday, April 23, 2008
CLEAR CHANNEL DEAL CLEARED FOR TAKE-OFF?
Company Shares Jump as Banks Try to Avoid a Trial
Clear Channel shares rose yesterday as investors now believe that a private equity acquisition of the broadcast giant will be OK’d by banks funding the $27 billion takeover.
Thomas H. Lee Partners and Bain Capital had rejected a proposal by the six banks, led by Citigroup and Deutsche Bank, to enter into binding arbitration to settle the purchase.
The banks’ settlement offer was seen by shareholders as a sign they are trying desperately to avoid a trial after the private equity firms sued them in Texas and New York.
Sources said the evidence that has been unearthed in pre-trial investigations contains documents and other correspondence that could potentially damage the banks' reputations.
Shareholders are expected to attend hearings on the two sides' motions for summary judgment, while the banks meet with TH Lee and Bain in Boston to try to hammer out an agreement.
VMAs BEAMING BACK
TO THE BIG APPLE Getting back to where they once belonged (4/24a)
THE COUNT: ALL THE DESERT'S A STAGE
Jon Wayne is rolling over in his grave. (4/24a)
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THE NEW UMG
Gosh, we hope there are more press releases.
TIKTOK BANNED!
Unless the Senate manages to make this whole thing go away, that is.
THE NEW HUGE COUNTRY ACT
No, not that one.
TRUMP'S CAMPAIGN PLAYLIST
Now 100% unlicensed!
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A CHORUS OF PRAISE: IVORS 2024 NOMSrumor mail
