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NEW YORK Clear Channel shareholders Thursday approved the $17.9 billion buyout by Bain Capital and Thomas H. Lee Partners. About 97 percent of the shares voted were cast in favor of the going-private transaction, the radio and outdoor media company said.
The vote was the third since the deal was announced in November 2006.
“We are pleased with the outcome of today’s vote,” said Mark Mays, chief executive officer of Clear Channel.
Under the terms of the merger agreement, San Antonio-based Clear Channel shareholders will receive $36 cash for each share they own.
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