In a strategic move set to reshape the landscape of media and entertainment, Endeavor Group Holdings has inked a definitive agreement with Silver Lake for acquisition. This transformative deal, forged in collaboration with the Endeavor management team and additional anchor investors, marks a significant milestone in the company’s trajectory.
Silver Lake to Acquire Full Ownership
Under the terms of the agreement, Silver Lake will assume ownership of 100% of outstanding shares not previously held, except for rolled interests. This move consolidates Silver Lake’s position as a key player in the evolving media landscape while positioning Endeavor for future growth and innovation.
Endeavor Executive Chairman Patrick Whitesell expressed confidence in the partnership, stating, “With Silver Lake’s continued partnership and support, Endeavor is ideally positioned to capitalize on compelling trends in media and entertainment, where global content spending has reached more than $200bn per year. In a business where the only constant is change, I know Endeavor will continue to lead the industry forward.”
Shareholders stand to gain substantially from this acquisition, with a cash offer of $27.50 per share on the table. This represents a remarkable 55% premium to the unaffected share price of $17.72 as of October 25, 2023, at market closing.
Endeavor CEO Ariel Emanuel elaborated on the strategic implications of the deal, remarking, “Since 2012, Endeavor’s strategic partnership with Silver Lake and Egon Durban have been central to our evolution into the global sports and entertainment leader we are today. We believe this transaction will maximize value for all of Endeavor’s public stockholders and are excited to continue to unlock and invest in the growth opportunities ahead as a private company.”
Silver Lake Managing Director and Endeavor Director Stephen Evans emphasized the enduring partnership between the two entities. He noted, “The team at Silver Lake is proud of our longstanding partnership with Endeavor, marked by more than $3.5bn of direct investment across six distinct transactions over 12 years. We are excited about what we can achieve together in this next phase, spearheaded by Endeavor’s visionary expertise across talent representation and content and ownership of truly special, marquee assets in sports.”
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