Technology investment company Silver Lake has agreed to take OpenBet owner Endeavor private in a deal worth $13bn (£10.2bn/€13bn).
Silver Lake will acquire 100% of the outstanding shares in Endeavor that it does not already own. This is with the exception of rolled interests.
Shareholders in Endeavor will receive $27.50 in cash per share. This is a premium of 55% compared to the $17.72 per share seen at market close on 25 October 2023.
On October 26, Endeavor announced that it had initiated a strategic review. This was to examine the potential of taking the business private. Silver Lake expressed its interest in taking Endeavor private at this time.
The deal’s $13bn equity value combined with the consolidation of TKO’s total value brings the total enterprise value to $25bn.
According to Silver Lake, this makes the acquisition the biggest private equity privatisation investment deal in more than a decade. It is also “the largest ever in the media and entertainment sector”.
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