Endeavor Going Private in Deal With Majority Shareholder Silver Lake

Ariel Emanuel speaks onstage during Los Angeles LGBT Center's 48th Anniversary Gala Vanguard Awards at The Beverly Hilton Hotel on September 23, 2017 in Beverly Hills, California.in a deal that values the company at $13 billion. The move arrives three years into Endeavor’s tenure as a publicly traded company and just six months since WME’s chief rival, CAA,

Silver Lake is Endeavor’s largest shareholder, having made its initial investment in WME in 2012 and purchasing IMG two years later, and plans on acquiring 100% of the remaining shares by offering stockholders $27.50 per share in cash, representing a 55% premium to the unaffected share price of $17.72 per share. Endeavor noted that was the price of shares on Oct. 25, 2023, a day before the company disclosed a review of strategic alternatives that included going private.

Endeavor said the transaction is fully financed through equity from Silver Lake and additional capital from partnering investors, including Mubadala Investment Company, DFO Management, Lexington Partners, and funds managed by Goldman Sachs Asset Management. Members of Endeavor’s leadership team, including chief executive, will also roll over their equity, and new debt financing was secured by Goldman Sachs, JP Morgan, Bank of America and other institutions.

“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,” said Emanuel. “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.

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