Clear Channel urges shareholders to vote for merger

Fri Mar 2, 2007 11:50am EST

March 2 (Reuters) - Clear Channel Communications Inc. (CCU.N) urged its shareholders to vote for the proposed merger with a group led by private equity firms T.H. Lee Partners L.P. [THL.UL] and Bain Capital Partners LLC.

Clear Channel, the largest U.S. radio station operator, said in a statement that it believes there is not another competitive bidder for the company, and the offer price of $37.60 per share in cash maximizes value and certainty.

(Reporting by Shikhar Balwani in Bangalore)

((Editing by Deepak Kannan; Reuters Messaging: shikhar.balwani.reuters.com@reuters.net; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800)) Keywords: CLEARCHANNEL TAKEOVER/

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