Mubadala Capital has cleared the last regulatory obstacle to its $6.2 billion acquisition of the American billboard company Clear Channel Outdoor, and the deal is now set to close on or about October 14. Shareholders will receive $2.43 per share in cash, and the stock will stop trading on the New York Stock Exchange once the transaction completes.
Clear Channel announced the clearance from the Committee on Foreign Investment in the United States on Tuesday. CFIUS reviews foreign investments for national security concerns, and its approval was the one regulatory condition still outstanding. Shareholders had already approved the deal in May, and the company said all regulatory requirements to complete the merger have now been obtained.
The clearance ends a timeline slip. When Mubadala Capital agreed in February to buy Clear Channel in partnership with the investment firm TWG Global, the company expected closing by the end of the third quarter. On October 1, it revised that to early in the fourth quarter, pending the regulatory review.
The per-share price of $2.43 represented a 71 percent premium to Clear Channel’s unaffected share price of $1.42 on October 16, 2025, the last trading day before media reports of a potential deal. The $6.2 billion figure is the transaction’s enterprise value, which includes the company’s debt; the cash to shareholders is based on the equity portion alone.
For Abu Dhabi, the closing completes one of the larger take-private deals led by a Gulf investor in a US-listed company. Mubadala Capital, a subsidiary of Mubadala Investment Company that manages more than $755 billion in assets, committed roughly $3 billion of equity alongside TWG Global. Apollo-managed funds provide preferred equity, and debt financing was committed by a group led by JPMorgan Chase Bank.
Clear Channel operates billboards, digital displays and airport advertising across the United States. Under the agreement, media executive Wade Davis is expected to become executive chairman after closing.
The indicator to watch is the closing itself, expected on or about October 14, subject to remaining customary conditions. Once it completes, the stock ceases trading and the company becomes privately held under Gulf-led ownership.
