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No Competing Bids Received by Clear Channel
The Dec. 7 deadline has come and gone and no competing bids to buy Clear Channel Communications have been received.
That means that the $26.7 billion buyout offer the company received in mid-Nov. from a group led by Thomas H. Lee Partners and Bain Capital can move forward, writes Radio Ink.
A date for a shareholder meeting, at which shareholders will be asked to vote on the buyout plan, has not yet been set.