Endeavor Group, Azenta, and More Stocks See Action From Activist Investors

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 77 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 34%
  • Publisher: 97%

United States News News

United States United States Latest News,United States United States Headlines

Silver Lake disclosed a large stake in sports and entertainment firm Endeavor. Politan Capital plans to nominate candidates to the board of life-sciences...

These disclosures are from 13Ds filed with the Securities and Exchange Commission. 13Ds are filed within 10 days of an entity’s attaining more than 5% in any class of a company’s securities. Subsequent changes in holdings or intentions must be reported in amended filings. This material is from Oct. 26 through Nov. 1, 2023. Source: VerityDataSilver Lake reported ownership of 174,114,556 Class A shares of the sports and entertainment company, accounting for 45.1% of the outstanding stock.

Silver Lake controls nearly 71% of Endeavor’s voting power through an additional 82.1 million and 169.4 million Class X and Class Y shares, respectively. Silver Lake’s co-CEO Egon Durban and Managing Director Stephen Evans serve on Endeavor’s board, and have engaged and will probably continue to engage other Endeavor directors and stakeholders about a take-private deal as well as any alternatives.

“We believe we are significantly undervalued, and we are exploring all options,” Endeavor President and Chief Operating Officer Mark Shapiro told The Wall Street Journal in an interview in late October. Endeavor is the owner of talent agency WME, which has been hit hard by the strikes that have closed production in the entertainment industry for the past several months. Endeavor stock has gained about 6% so far this year.Politan Capital owns 4,578,003 shares of the life-sciences company, equal to 7.6% of the tradable stock. Politan and Azenta entered into a nondisclosure agreement as the two discuss its operations, strategy, and corporate governance.

Azenta just had a change in the C-suite. Herman Cueto joined Azenta as chief financial officer, effective on Oct. 16. He succeeded Lindon Robertson, who retired.Gamco Investors lifted its interest in the maker of equipment and technology for the energy industry to 2,417,277 shares after a series of sales and buys during the past two months. As Dril-Quip stock traded from $22.75 to $30 each, Gamco sold 29,950 Dril-Quip shares from Sept. 5 through Oct.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in US

United States United States Latest News, United States United States Headlines