Turns Out Wall Street Isn’t Into MDMA After All…

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A few months ago Robert F.X. Sillerman, SFX Entertainment’s Founder, CEO, and Executive Chairman of the Board, announced that he wanted to take the company private.

Sillerman offered to buy all the shares he didn’t own for $4.75 a share. He currently owns 37.4 percent of the company. Shareholders weren’t to happy about the offer. SFX shares were trading at $4.76 at the time.

Sillerman has since raised the price to $5.25 cash for each share. SFX’s board has unanimously approved the offer. As of 5/27/15 11:36 AM PST shares are trading for $4.95.

The proposal still has to be approved by the majority of “unaffiliated stockholders”. Shareholders will be able to keep their shares instead of cashing out if they wish, “subject to certain conditions and limitations”.

Nina Ulloa covers breaking news, tech, and more: @nine_u

Photo by DUP Photos on Flickr used with the Creative Commons License

2 Responses

  1. David

    What does this story have to do with MDMA?

    Just throwing anything you want into the headline to titilate? Hate it when news stories lie in their headline to try to trick people into reading their swill.

    • Anonymous

      Hey, it got us to click on it right?

      DMN is consistently going downhill with their content.