Thomas H. Lee Partners news stories on Newser

Simmons Bankruptcy: Study in Private Equity Run Amok

Jason Farago — Mon, 05 Oct 2009 07:30:00 CDT

The mattress company Simmons will be filing for bankruptcy protection soon, wiping out bondholders and jeopardizing more jobs at a company that's already fired a quarter of its work force. While Simmons watched its debts balloon nearly tenfold since 1991, a string of private equity firms bought and sold the...

Clear Channel, Buyers Sue Banks Over Soured Deal

Nick McMaster — Wed, 26 Mar 2008 18:02:26 CDT

The two private-equity firms set to buy Clear Channel sued the group of banks they had engaged to fund the deal, the Wall Street Journal reports. Joined by Clear Channel, Bain Capital and Thomas H. Lee Partners accused the consortium—including Citigroup, Deutsche Bank, and Wachovia—of breaching contract by...

$19B Buyout of Clear Channel Nearly Dead

Matt Cantor — Tue, 25 Mar 2008 19:30:59 CDT

A $19 billion bid to privatize Clear Channel appears likely to fall through as buyers and financiers bicker—with credit-crunch-induced liquidity woes a major stumbling block, the Wall Street Journal reports. A credit agreement between private equity firms and the banks funding the move has become shaky. “No one wants...

Investors Worry Clear Channel Sale Is Off the Air

Jim O'Neill — Wed, 30 Jan 2008 15:22:40 CST

Optimism on Wall Street about Clear Channel's $19 billion equity buyout is fading and its share price is spiraling lower as the deal, more than a year in the making, appears to be unraveling—done in by regulatory issues, credit worries, and deteriorating industry conditions, the Wall Street Journal reports.

Clear Channel Board Takes Private Equity Bait

M. Morris — Fri, 18 May 2007 15:14:36 CDT

After months of stops and starts, Clear Channel's board today gave the green light to a $19.5 billion buyout offer. The communications giant bit after Thomas H. Lee Partners and Bain Capital, which have been bidding since November, gained the backing of two large shareholders. The successful offer was...