Clear Channel Communications Inc (CCU) $32.60 -9.82%

Will they or Won’t They? Clear Channel (CCU) is seeing three times its normal volume as many players look to buy more time by selling March and rolling forward to April. Recall that Bain Capital and Thomas H. Lee are in the process of a $22 billion buyout of CCU, or $39.10 a share. The stock sits at only $33.00 due to uncertainty about the deal amid ongoing turmoil in the credit markets. CNBC?s David Faber said this morning that there is no expectation that the deal will go down during the next few days, as banks are hoping to get out of the agreement. Thomas H. Lee President was on CNBC moments ago and declined to comment, but said that they have a hard agreement with the banks, which they?re still working on. Dow Jones Newswires reported last night that ?The extended deadline may signal the long awaited sale of Clear Channel isn’t as close as investors hope. The company’s stock price shot up nearly 11% Tuesday as signs pointed to an imminent close – perhaps in the next few days – of the $19.5 billion deal. The debt financing for the buyout is a remaining hurdle, with Clear Channel’s private-equity buyers and banks funding the deal haggling over terms.?

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