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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