UFC Owner Endeavor Group in Talks to Be Taken Private
Shares of Endeavor Group Holdings, Inc. (NYSE: EDR) surged 22.57% inwards Wednesday’s after-hours trading session. That’s after jeopardize chapiter unwavering Silver Lake said it’s exploring strategic alternatives with the parent keep company of the Ultimate Fighting Championship (UFC), including taking it private.
Silver Lake owns 71% of the voting powerfulness inward Endeavor, which also owns IMG Arena and operates the Professional Bull Riders (PBR) and Euroleague.
Silver Lake is committed to strategies that present note value for all shareholders of Endeavor. To that end, Silver Lake is currently working toward making a proposal to take Endeavor private,” according to a statement issued by the Menlo Park, Calif.-based adventure investor. “Silver Lake firmly believes inwards Endeavor’s business sector and is non interested inward marketing its shares inwards Endeavor to a third-party nor inward entertaining bids for assets that are a piece of Endeavor.”
Silver Lake’s comments on non seeking an exterior vendee for its Endeavor stake are pertinent because Endeavor rival CAA recently sold a bulk stakes to Daniel Chester French billionaire Francois-Henry Pinault.
Silver Lake News Extends Busy Stretch for Endeavor
News of Silver Lake’s talks with Endeavor extends a fussy point for the latter.
The society recently ruined the acquisition of World Wrestling Entertainment for $9.3 billion. The buyer combined WWE with UFC and changed its gunstock ticker to “TKO.” In May, Endeavor announced its number one dividend,while also apprisal investors it will repurchase up to $300 jillion worth of its shares.
Endeavor owns 51% of that stage business and has made crystallise it’s not interested inward marketing that stake. It could live a germ of allure for Silver Lake.
“Our Co-Chief Executive Officer, Egon Durban, and our Managing Director, Stephen Evans, wait on as members of the Executive Committee of the Board of Directors of Endeavor. Silver Lake has been a committed investor since 2012 and has made significant investments inward Endeavor since then to funding its growth,” added the investor in the statement.
Endeavor’s Gaming Ties
Beyond UFC’s rising popularity with bettors, Endeavor has percipient ties to the sports wagering space.
For example, its IMG Arena building block provides information to sportsbook operators. Last year, Endeavor bolstered that byplay with the acquisition of the OpenBet sports wagering unit from the companionship and then known as Scientific Games. OpenBet clients include DraftKings, FanDuel, William Hill, and WynnBet, among others.
Silver Lake isn’t a unknown to the gaming arena, either. In addition to its investment funds inward Endeavor, the hazard investor holds a stakes inwards Fanatics, which of late joined the U.S. sports wagering fray. The society has $101 1000000000000 inward combined assets below direction inward several sports leagues and teams.
“Silver Lake’s portfolio companies collectively generate nearly $265 1000000000 of revenue annually and employ some 533,000 people globally,” noted the firm.
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