Michael Kors Handbags Sale The acquisition’s private equity sponsors
Clear channel clears true religion fringe vest buyout hurdle
San antonio(Ap)Clear channel communications inc.Said the debt financing needed for its $17.9 billion sale to two private equity firms Great Deals is in place, clearing one hurdle in the transaction’s path.
“Today’s actions significantly increase the certainty that our louis vuitton merger will close,”Said mark mays, chief executive officer of san antoniobased clear channel.
The radio and outdoor advertising company agreed to be acquired by the buyout firms bain capital partners and thomas h.Lee partners in november 2006.Earlier this month, the moncler coats men company decided to take a lower price and slightly higher lending rates to settle a dispute with lenders.
The lenders, which include citigroup, Clarisonic Mia 2 deutsche bank, morgan stanley, credit suisse, royal bank of scotland and wachovia, agreed to place all financing into an escrow account, pending the deal’s closing, clear channel said friday.
The bank syndicate had until friday to comply with a settlement agreement in connection with lawsuits filed in march in the supreme court of the state of new york and state court in san antonio.
The acquisition’s private equity sponsors and certain shareholders investing in the new company are required to fund the equity financing into escrow by Michael Kors Handbags Sale wednesday.
The final $36 pershare deal price was 8 percent below the latest offer of $39.20, and even below the original price of $37.60 that major shareholders had opposed as being too low.