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InsideArbitrage Potential Deal Alert: Endeavor Announces Review of Strategic Alternatives

  • October 29, 2023

POTENTIAL DEAL DETAILS

StockEndeavor Group Holdings, Inc.SymbolEDR
Date Announced10/25/2023Source Press Release
TypeCompany Seeking Strategic Alternatives

Endeavor Group Holdings, Inc. (EDR), a global sports and entertainment company, announced the initiation of a formal review to evaluate strategic alternatives for the company.

Update(s):

October 25, 2023: Silver Lake announced it is currently working toward making a proposal to take Endeavor private.

Silver Lake is the owner of approximately 71% of the voting power of Endeavor.

December 11, 2023: CNBC reported that Endeavor Group falls amid report Silver Lake deal not imminent. Silver Lake is still doing due diligence, they haven’t discussed price or set up a special committee yet, according to CNBC’s David Faber.  A bid could be made before the end of January.

January 19, 2024: According to Bloomberg, Silver Lake’s offer will be made to Endeavor’s (EDR) independent directors, who will subsequently engage advisers to assess the bids and provide a recommendation. Silver Lake plans to sell parts of the company after it takes it private.

February 27, 2024: According to CNBC’s David Faber, Silver Lake is still expected to make a bid in March.

February 28, 2024: Endeavor Group (EDR) announced its Q4 2023 results and progress in its strategic review, emphasizing its commitment to enhancing shareholder value through regular dividend payments and the ongoing exploration of strategic options.

Disclaimer: Our intent with this section of the website is to present potential deals that appear to be in the pipeline. These potential deals are ones where i) the company has indicated that it is "seeking strategic alternatives", ii) there has been an unsolicited bid for a company as mentioned in a press release by the company or iii) news about the deal has been published by a leading news organization like The Wall Street Journal, The New York Times, Bloomberg, Financial Times, The Washington Post, Reuters and The Associated Press. As best as possible we will try to avoid baseless rumors. There is a high probability that many of these potential deals may not materialize and if they do, the terms of the deal may be different from what was initially reported. Please do your own due diligence before buying or selling any securities mentioned on this website. We do not warrant the completeness or accuracy of the content or data provided.