Kirkland Advises Silver Lake on $25 Billion Take-Private of Endeavor
Kirkland & Ellis is advising technology investor Silver Lake on the $13 billion acquisition of global sports and entertainment company Endeavor Group Holdings, Inc. (NYSE: EDR). The transaction was announced April 2, 2024. According to the definitive agreement, Silver Lake will pay Endeavor shareholders $27.50 per share in cash, representing a 55% premium to the unaffected share price of $17.72 per share at market close on October 25, 2023, the last full trading day prior to Endeavor’s announcement of its review of strategic alternatives. The price puts an equity value of $13 billion on Endeavor with a combined enterprise value of over $25 billion when consolidating TKO’s value into Endeavor. Silver Lake previously supported Endeavor’s acquisition of UFC in 2016 and the merger of UFC and WWE, creating TKO (NYSE: TKO) in 2023. TKO is not party to the transaction and will remain publicly traded. The transaction is expected to close by the end of the first quarter of 2025, pending customary closing conditions and regulatory approval.
Read the transaction's press release
The Kirkland team is being led by investment funds partners Mark Boyagi, Jordan Murray, Eric Fischer, Kevin Lam and Leslie Hung and tax partners Lee Morlock and Joseph Tootle.
