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Endeavor to Go Private in Deal With Silver Lake Valuing Company at $13 Billion

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Todd Spangler NY Digital Editor Endeavor, three years after the sports and entertainment company went public, announced that it has entered into an agreement to be acquired by private-equity firm Silver Lake.

The deal gives Endeavor an equity value of $13 billion, the companies said. According to the parties, the premium to be paid by Silver Lake represents $4.6 billion more equity value to all Endeavor stockholders. “Silver Lake believes that when consolidating all of TKO’s value into Endeavor, the combined total enterprise value of $25 billion will make this the largest private equity sponsor public-to-private investment transaction in over a decade, and the largest ever in the media and entertainment sector,” the companies said in announcing the pact.

Under the terms of the agreement, Silver Lake will acquire 100% of the outstanding shares of Endeavor does not already own. Endeavor stockholders will receive $27.50 per share in cash, representing a 55% premium to the unaffected share price of $17.72 per share at market close on Oct.

25, 2023, the last full trading day prior to Endeavor’s announcement of its review of strategic alternatives, and a 39% premium to Endeavor’s unaffected 30‐day VWAP.

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