Endeavor goes private in $13 billion deal with investor Silver Lake

The parent company of OpenBet, Endeavor, is going the private way via a deal worth $13 billion, struck with its absolute prime investor, Silver Lake.  

The investor will be pumping in, at the rate of $27.50 per share, for the cent percent balance shares that are not in its possession. This stands for a 55% premium on the unimpacted share price of $17.72 in October, at the time of Silver Lake’s aim to make the firm private.

Based on online Canadian sportsbook news, it is found that after receiving confirmation that Endeavor was scouring ways to create further value for the firm, Silver Lake decided that the best way was for it to be privatized.

According to Silver Lake Co-CEO and Endeavor Chairman of the Board, Egon Durban, their collective Endeavor has pushed Endeavor to the heights it has reached today from humble beginnings. It is now better placed to benefit from its capacity to create content, sports, and live events.

The deal will receive finance via fresh and reinvested equity from Silver Lake and funds from added investors like Mubadala Investment Company and DFO Management.

The deal is expected to witness a closure towards the first quarter of 2025.

In the words of the CEO of Endeavor, Ariel Emanuel, Silver Lake has a big hand in making them the top players in international sports and entertainment. Their privatization will bring greater glory to their company.

Endeavor thinks that TKO Group Holdings, the owners of the WWE and UFC, would not be selling out, which is true since the company stated that TKO will continue to be a publicly traded company.

Nothing has been decided regarding OpenBet, which has recently joined up with Endeavor’s data business wing, IMG Arena.

Recently, Advent International divulged the striking of a deal with Nuvei, a payment technology supplier, to go private. Advent will be taking over every released and outstanding subordinate share and various voting shares for $34.00 per share, pushing the company’s value to $6.3 billion.

The CEO of Nuvei, Philip Fayer, will continue to hold his position and retain 24% equity when the firm is privatized. Novacal and CPDQ, both investors, will be retaining 18% and 12% equity, respectively.