WikiBit 2024-04-03 03:13Ariel Emanuel, Chief Executive Officer, Endeavor, at the New York Stock Exchange, April 29, 2021.Source: NYSEPrivate equity firm Silver Lake announced
Ariel Emanuel, Chief Executive Officer, Endeavor, at the New York Stock Exchange, April 29, 2021.
Pinagmulan: NYSE
Pribadong equity firm announced Tuesday that its acquiring entertainment company sa halagang $ 27.50.
Endeavors stock rose more than 2% Tuesday afternoon after a brief halt ahead of the announcement. It was trading just under $26 per share.
Silver Lake will acquire 100% of the shares it does not already own. Endeavor is being acquired at an equity value of $13 billion, according to a release from the entertainment company.
The transaction is expected to close by the end of the first quarter of 2025.
“We believe this transaction will maximize value for all of Endeavors public stockholders and are excited to continue to unlock and invest in the growth opportunities ahead as a private company,” Endeavor CEO Ariel Emanuel said in a statement.
Endeavor works on talent representation, through agency WME, along with brand licensing and live events. It has undergone a shift in recent years.
In 2022, the company acquired OpenBet, a sports betting platform. In 2023, it sold IMG Academy, a sports education institution, in a $1.25 billion deal.
Endeavor is also the majority owner of , which owns the UFC and WWE. TKO will remain a publicly traded company as part of the deal.
Endeavor previously said it would explore strategic alternatives, including a possible sale.
Silver Lake initially invested in Endeavor in 2012 and supported the company‘s acquisition of UFC in 2016. Silverlake’s co-CEO Egon Durban and managing director Stephen Evans were members of Endeavors board ahead of the acquisition.
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