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Silver Lake to buy Endeavor for $13 billion

Endeavor CEO Ari Emanuel.

Endeavor CEO Ari Emanuel. Photo: Chris Unger/Zuffa LLC

Silver Lake agreed to acquire all of Endeavor Group Holdings for $13 billion, the companies announced Wednesday.

Why it matters: The agreement is set to end Endeavor's brief run as a public company after it struggled to win investor support.

Zoom in: Silver Lake is acquiring 100% of the shares in Endeavor that it doesn't already own for $27.50 per share, a 55% premium on the stock's value as of October 25, 2023, when the company said it was exploring strategic alternatives. Endeavor's stock closed at $25.81 on Tuesday.

  • Silver Lake, a tech and media focused private equity giant, is already Endeavor's majority shareholder.
  • TKO Group, a separate publicly traded company that encompasses the UFC and WWE, is not part of this transaction. Endeavor also holds a 51% stake in TKO Group.
  • Including Endeavor's holdings in TKO Group, Silver Lake put a total enterprise value of $25 billion on the transaction.
  • "Since 2012, Endeavor's strategic partnership with Silver Lake and Egon Durban have been central to our evolution," Endeavor CEO Ari Emanuel said in a statement. "We believe this transaction will maximize value for all of Endeavor's public stockholders."

The big picture: Bloomberg reported in January that Silver Lake may sell off parts of Endeavor after the deal closes.

  • Bloomberg said at the time that the parts under consideration included marketing and fashion firm IMG, a sports-betting platform OpenBet, the Professional Bull Riders league and New York Fashion Week.
  • The WME talent agency was not expected to be part of that, Bloomberg reported.

What's next: The deal is expected to close by the first quarter of 2025.

Editor's note: This story was updated with additional details.

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