BigChampagne's Ultimate Chart (a/o February 10th):
1. “What Doesn't Kill You (Stronger),” Kelly Clarkson
2. “Set Fire to the Rain,” Adele
3. “Turn Me On,” David Guetta
4. “Rack City,” TYGA
5. “Good Feeling,” Flo Rida
6. “Smooth Criminal (Glee Cast Version),” Glee Cast
7. “Young, Wild & Free,” Snoop Dogg & Wiz Khalifa
8. “Domino ,” Jessie J
9. “Sexy and I Know It,” LMFAO
10. “Ass Back Home ,” Gym Class Heroes
Clear Channel Communications is now sealing its modified acquisition deal, the near-end of a nail-biting, contentious process. A quickly-tightening credit environment almost killed the acquisition, though private equity firms Thomas H. Lee Partners and Bain Capital Partners sued lending banks to prevent a pullout. But an out-of-court agreement forged a lowered per-share acquisition arrangement, one that the parties agreed to.
On Wednesday, Clear Channel pointed to an escrow account containing $17.9 billion, managed by the Bank of New York. "All of our financing is liquid and ready to deploy as soon as shareholders approve the amended merger agreement," said Mark Mays, chief executive of Clear Channel Communications. The approval is expected, despite the $36-per-share price tag, lowered from $39.20 initially.
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