Mubadala Reaches $6.2 Billion Deal for Clear Channel Outdoor (1)

Clear Channel Outdoor Holdings Inc. agreed to be acquired by investors led by Mubadala Capital in an all-cash transaction that values the billboard company at $6.2 billion, including debt.

Mubadala Capital and its partners will pay $2.43 a share for Clear Channel, according to a statement. That’s an 11% premium over the company’s closing price of $2.19 Monday in New York. The shares rose 7.8% after the close of regular trading.

Clear Channel shares have gained 61% in the past year, giving the San Antonio-based company a market value of about $1.1 billion. The company has $5.39 billion in ...