Endeavor said it would be taken private by its largest investor, Silver Lake, after exploring options. The owner of WME has struggled on the public market.
Endeavor, the owner of Hollywood talent agency WME, said Tuesday that it will be taken private by its largest investor, private equity firm Silver Lake, three years after the Beverly Hills-based entertainment giant made its stock market debut. Under the deal, Silver Lake will acquire all outstanding shares of Endeavor that it does not own. Endeavor stockholders will get $27.50 per share in cash, a 55% premium from the closing price of $17.
'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,' said Endeavor Chief Executive Ari Emanuel in a statement. Endeavor-backed TKO, the publicly traded venture that owns UFC and WWE, is not party to the transaction, the company said.
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