Ares Management, Holding 8.3% Stake, Agrees to Support Clear Channel Outdoor Acquisition

summarizeSummary

Ares Management, a major institutional shareholder, has signed a support agreement to vote its 8.3% stake in favor of Clear Channel Outdoor's acquisition by Mubadala Capital, further solidifying the deal's path to completion.

check_boxKey Events

• Major Shareholder Support for Merger

  Ares Management and its affiliated funds, holding an 8.3% stake, have entered into a support agreement to vote their 41,197,491 shares in favor of the proposed all-cash acquisition.

• De-risks Acquisition

  This commitment from a significant institutional investor, following similar agreements from other large shareholders, increases the likelihood of the merger with Mubadala Capital closing successfully.

• Follows Definitive Merger Agreement

  This support agreement was executed on February 9, 2026, the same day the company announced the definitive merger agreement for $2.43 per share.

auto_awesomeAnalysis

Ares Management and its affiliated funds, collectively holding a significant 8.3% stake in Clear Channel Outdoor Holdings, have formally committed to vote their shares in favor of the proposed all-cash acquisition by Mubadala Capital for $2.43 per share. This support agreement, following similar commitments from other major shareholders like Arturo R. Moreno and Legion Partners, substantially de-risks the merger by securing a significant portion of the necessary shareholder votes. The market is already pricing in a high probability of the deal closing, with the stock trading near the acquisition price.