Silver Lake to take Endeavor private in sizeable merger
The agreement will allow Silver Lake to purchase all of the remaining Endeavor outstanding shares.
Endeavor Group Holdings has signed a definitive agreement to be acquired by Silver Lake. The deal is in partnership with the Endeavor management team, along with additional anchor investors.
Under the conditions of the agreement, Silver Lake will acquire 100% of outstanding shares it does not previously own, other than rolled interests.
Endeavor Executive Chairman Patrick Whitesell said, “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.”
Company stockholders will receive $27.50 per share in cash. This amount represents a 55% premium to share’s $17.72 unaffected share price at the October 25, 2023 market closing.
Endeavor CEO Ariel Emanuel commented further on the deal by saying, “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 spoke highly of the lengthy collaboration and said the group is eager to continue its strong relationship in the future.
He commented, “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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