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| Version 2 | Version 3 |
|---|---|
| Suitors raise Clear Channel bid | Suitors raise Clear Channel bid |
| (about 6 hours later) | |
| The suitors chasing Clear Channel Communications, the owner of a string of US radio stations, have increased their bid to try and woo key investors. | The suitors chasing Clear Channel Communications, the owner of a string of US radio stations, have increased their bid to try and woo key investors. |
| The new offer from private buyers Thomas H Lee Partners and Bain Capital values the firm at $19.45bn (£9.8bn). | The new offer from private buyers Thomas H Lee Partners and Bain Capital values the firm at $19.45bn (£9.8bn). |
| They have increased their $39-a-share bid to $39.20 after postponing a shareholder meeting last week. | They have increased their $39-a-share bid to $39.20 after postponing a shareholder meeting last week. |
| Clear Channel, which is a major outdoor advertiser in the UK, has recommended that its shareholders accept the bid. | Clear Channel, which is a major outdoor advertiser in the UK, has recommended that its shareholders accept the bid. |
| Shares in the firm had gained 1.2% to $38.23 by the close in New York. | |
| But there is still no guarantee the latest offer will acquiesce shareholders, who have insisted the company is worth more than the offers previously put on the table and have threatened to vote against the buyout. | But there is still no guarantee the latest offer will acquiesce shareholders, who have insisted the company is worth more than the offers previously put on the table and have threatened to vote against the buyout. |
| Last month, Thomas H Lee and Bain raised its $37.60-a-share bid to $39, which they insisted was their "best and final" offer, though analysts predicted more drama. | Last month, Thomas H Lee and Bain raised its $37.60-a-share bid to $39, which they insisted was their "best and final" offer, though analysts predicted more drama. |