Silver Lake acquires Endeavor Group Holdings for $27.50 a share, boosting Endeavor's stock price.

From CNBC: 2024-04-02 13:39:24

Private equity firm Silver Lake is acquiring entertainment company Endeavor Group Holdings for $27.50 a share, with Endeavor’s stock rising more than 2% after the announcement. The transaction values Endeavor at $13 billion, with Silver Lake acquiring 100% of remaining shares. CEO Ariel Emanuel expects the deal to maximize value for stockholders.

Endeavor focuses on talent representation, brand licensing, and live events, acquiring OpenBet in 2022 and selling IMG Academy in 2023. It is the majority owner of TKO Group Holdings, which owns UFC and WWE. The agreement with Silver Lake, expected to close by early 2025, follows Endeavor exploring strategic alternatives.

Silver Lake, which initially invested in Endeavor in 2012 and backed its acquisition of UFC in 2016, will complete the acquisition by acquiring all remaining shares. Endeavor CEO Ariel Emanuel sees the transaction as unlocking growth opportunities for the company’s future as a private entity. Co-CEO Egon Durban and managing director Stephen Evans of Silver Lake were former board members at Endeavor.



Read more at CNBC: Silver Lake to take Endeavor private for $27.50 a share