Silver Lake to take TKO Holdings owner Endeavor private in $13bn deal

While Endeavor is being acquired at an equity value of $13bn, Silver Lake believes that when consolidating all of TKO’s value into Endeavor, the combined total enterprise value of $25bn 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.

On the unaffected date, the equity value was $8.2bn, and the premium to be paid by Silver Lake represents $4.6bn more equity value to all Endeavor stockholders.

The transaction builds on multiple investments Silver Lake has made in Endeavor starting with the firm’s initial investment in William Morris Endeavor in 2012 and continuing through Endeavor’s subsequent acquisition of IMG in 2014 and initial public offering in 2021. Silver Lake also supported Endeavor’s acquisition of UFC in 2016 and the merger of UFC and WWE, creating premium sports and entertainment company TKO Group Holdings, Inc in 2023.

TKO is not party to this transaction and will remain a publicly traded company that will continue to benefit from its connectivity to Endeavor’s expertise, relationships, and significant capabilities.

The transaction, which is subject to the satisfaction of customary closing conditions and required regulatory approvals, is expected to close by the end of the first quarter of 2025. Upon completion of the transaction, Endeavor’s common stock will no longer be listed on any public market.

Source: Private Equity Wire