M&A · Industrials · Services-Amusement & Recreation Services
Silver Lake to acquire Endeavor Group Holdings, Inc.
Announced Apr 2, 2024 · Closed Mar 24, 2025
Deal value$25.00BEV $25.00B
Premium55.0%To unaffected price
EV / Adj. EBITDA24.7x4.2x EV / Revenue
ConsiderationAll cash$27.50 per share
Transaction
- Acquirer
- Silver Lake
- Target
- Endeavor Group Holdings, Inc. (EDR)
- Buyer type
- Private equity
- Offer price per share
- $27.50
- Enterprise value
- $25.00B
- Status
- Closed Mar 24, 2025
Deal protections
- Break fee (target pays)
- $289M · 1.2%
- Reverse fee (buyer pays)
- $705M · 2.8%
- Go-shop
- No-shop
- Financing
- Committed · JPMorgan, Morgan Stanley, BofA Securities, Goldman Sachs, Barclays, Deutsche Bank +2
Advisors
- To the acquirer
- Goldman Sachs, JPMorgan, Morgan Stanley, BofA Securities, Barclays, Deutsche Bank, RBC Capital Markets, Raine
- To the target
- Centerview
- Centerview fee
- $54.0M
Sector context · Industrials
- Comparable deals
- 80 in the prior 24 months
- Premium
- 55.0% vs. 39.5% sector median
- EV / Adj. EBITDA
- 24.7x vs. 11.4x sector median
- Break fee
- 1.2% vs. 2.8% sector median
Timeline
- AnnouncedApr 2, 2024
- Proxy filedAug 5, 2024
- Definitive proxyJan 15, 2025
- Shareholder vote—
- ClosedMar 24, 2025
Valuation · fairness opinions
Trading comparables$22.44$30.89
Discounted cash flow$27.58$36.23
52-week trading range$17.67$25.88
Offer $27.50
Implied value per Endeavor Group Holdings, Inc. share by analysis, from Centerview · DCF discount rate 10.5%–12%.