Endeavor to Go Private in Silver Lake Deal Worth $13 Billion

Endeavor, the powerhouse behind agencies WME and IMG, is set to be acquired by private equity firm Silver Lake in a monumental deal valued at $13 billion. This move comes three years after Endeavor went public and just months after its rival CAA changed ownership.

Silver Lake, already the largest shareholder in Endeavor, plans to acquire the remaining shares by offering stockholders $27.50 per share in cash, a 55% premium to the unaffected share price. This acquisition follows Endeavor’s disclosure of exploring strategic alternatives, including going private.

Endeavor, trading as EDR on the NYSE, closed at $25.81 on Tuesday. The company’s diverse portfolio includes On Location, 160over90, and OpenBet, with a majority stake in TKO Group Holdings, which merged UFC with WWE last year.

Led by co-CEOs Egon Durban and Greg Mondre, Silver Lake boasts a $102 billion asset portfolio, including Oak View Group and Fanatics. The transaction is fully financed by Silver Lake and partnering investors, with support from Goldman Sachs, JP Morgan, and Bank of America.

Endeavor’s leadership team, including CEO Ari Emanuel, will roll over their equity in the deal. Emanuel expressed excitement for the growth opportunities ahead as a private company, while Silver Lake’s managing director Stephen Evans highlighted the longstanding partnership between the two entities.

This acquisition marks a significant chapter in Endeavor’s evolution as a global leader in sports and entertainment, promising to unlock new growth opportunities and investments in the future.