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Focus Media Holding Ltd. Message Board

  • fretfulporpentine Nov 2, 2012 6:41 PM Flag

    Stars Aligning for Focus Media (FMCN) 'Going Private' Deal Financing

    Stars Aligning for Focus Media (FMCN) 'Going Private' Deal Financing
    9:58 AM ET, 11/02/2012 - Street Insider

    Focus Media Holding Ltd. (NASDAQ: FMCN) is ticking higher early Friday following reports that financing for the leverage buyout is lining up.

    The Wall Street Journal reported that three more banks - Bank of America Merrill Lynch, Deutsche Bank, UBS - are joining in to finance the $3.7 billion leverage buyout, citing sources.

    In August, the company announced a $27 per share 'going private' proposal from Chairman/CEO Mr. Jason Nanchun Jiang and affiliates of FountainVest Partners, The Carlyle Group, CITIC Capital Partners, CDH Investments and China Everbright Limited.

    Shares of FMCN last traded at $24.25, up 1.6 percent.

    Sentiment: Hold

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