The Abu Dhabi-based wealth fund is slated to complete the transaction on Oct. 14, marking the end of Clear Channel's tenure as a publicly traded entity. Under the terms of the agreement, shareholders are set to receive $2.43 per share in cash once the merger officially closes. This acquisition, first announced in February, represents a significant shift for the outdoor advertising firm as it exits the public markets to align with the state-owned investment vehicle.
Clear Channel Cleared for $6.2 Billion Acquisition by Mubadala
With the U.S. Committee on Foreign Investment signing off on the deal, the path is finally clear for the $6.2 billion acquisition of Clear Channel Outdoor by Mubadala Capital. The long-awaited regulatory hurdle overcome, the advertising giant is now positioned to finalize its transition to private ownership this October.
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