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Clear Channel banks to fund buyout: report

Mon May 12, 2008 12:35pm EDT
 
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NEW YORK (Reuters) - The banks that had been trying to pull out of the funding for the $20 billion buyout of Clear Channel Communications (CCU.N: Quote, Profile, Research, Stock Buzz) have reached a settlement with the private equity firms that had sued them, the Wall Street Journal reported on Monday.

Under the terms of the deal, the banks will fund a takeover at a price of $36 a share, the newspaper said in its Web site.

(Reporting by Christian Plumb)

 
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