Endeavor Going Private in $13B Acquisition; Silver Lake Buys Outstanding Shares at 55% Premium

Silver Lake Endeavor acquisition going private
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Silver Lake Endeavor acquisition going private
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Photo Credit: Endeavor

Private equity firm Silver Lake has reached an agreement to take entertainment company Endeavor private in a $13 billion deal.

The acquisition will see Endeavor stockholders granted $27.50 per share in cash, a 55% premium of the closing price of $17.72 in October before news that Silver Lake was seeking to take the company private. Silver Lake is currently the largest shareholder in Endeavor, owning 31% of outstanding shares as of December 31.

The private equity firm said last year it was seeking to take Endeavor private, while Endeavor agreed it was evaluating strategic options. Endeavor said then that it would not consider a sale of its majority interest in TKO Group Holdings—a separate company whose assets include WWE and UFC. TKO is not a part of this transaction and will remain a publicly traded company.

Silver Lake will finance the transaction through a combination of new and reinvested equity, as well as additional capital anchored by investors including Mubadala Investment Company and DFO Management. The deal is expected to close by the end of Q1 2025.

“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,” adds Ariel Emanuel, CEO of Endeavor. “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.”

The transaction builds on multiple investments Silver Lake has made in Endeavor starting with Silver Lake’s initial investment in William Morris Endeavor in 2012 and continuing through Endeavor’s subsequent acquisition of IMG in 2014 and initial public offering in 2021. Silver Lake also supported Endeavor’s acquisition of UFC in 2016 and the merger of UFC and WWE—creating the premium sports and entertainment company TKO Group Holdings.