Private equity firm Silver Lake to take entertainment company Endeavor private at $27.50 a share

Private equity firm Silver Lake announced Tuesday that it’s acquiring entertainment company Endeavor Group Holdings for $27.50 a share.

Private equity firm Silver Lake announced it's acquiring Endeavor Group Holdings for $27.50 a share.Endeavor's stock rose more than 2% Tuesday afternoon after a brief halt ahead of the announcement. It was trading just under $26 per share.

Silver Lake will acquire 100% of the shares it does not already own. Endeavor is being acquired at an equity value of $13 billion, according to a release from the entertainment company."We believe this transaction will maximize value for all of Endeavor's public stockholders and are excited to continue to unlock and invest in the growth opportunities ahead as a private company," Endeavor CEO Ariel Emanuel said in a statement.

Endeavor works on talent representation, through agency WME, along with brand licensing and live events. It has undergone a shift in recent years.Silver Lake initially invested in Endeavor in 2012 and supported the company's acquisition of UFC in 2016. Silverlake's co-CEO Egon Durban and managing director Stephen Evans were members of Endeavor's board ahead of the acquisition.

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