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: TechAgreements

Citadel Broadcasting Enters Into Exclusive Negotiations With Cumulus Media Regarding $37.00 Per Share Merger Proposal

By TechAgreements

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Under the terms of its non-binding proposal, Cumulus would pay $37.00, in a combination of cash and Cumulus stock, for each Citadel share and warrant. Based upon the proposed cash and stock election formula, the $37.00 per share consideration would on average be capped at $30.00 per share in cash and at $14.00 per share in Cumulus stock at a fixed exchange ratio. Based on actual elections made by.

Full post as published by TechAgreements on February 18, 2011 (boomark / email).

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