Business
Clear Channel Outdoor to be Acquired by Mubadala
Out-of-home advertising company Clear Channel Outdoor Holdings agreed to be sold to Mubadala Capital, in partnership with TWG Global, in a deal with a $6.2 billion enterprise value.
The transaction is worth $2.43 a share. Clear Channel shares closed at $2.19 on Monday and rose 5% after hours. The company said the deal provides a 71% premium to the unaffected share price of Oct. 16, the last trading day before media reports about a potential deal.
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