Form 4: Endeavor Group Holdings Acquired by Silver Lake Affiliate in Merger Completion

Mubadala Investment Co PJSC reports the completion of Endeavor Group Holdings' acquisition by Wildcat EGH Holdco, L.P., an affiliate of Silver Lake Group, L.L.C., with each share converted to $27.50 in cash.

Summary

• On March 24, 2025, Endeavor Group Holdings was acquired by Wildcat EGH Holdco, L.P., an affiliate of Silver Lake Group, L.L.C.
• The acquisition was completed pursuant to the terms of the Merger Agreement dated April 2, 2024.
• Each share of Endeavor's common stock was converted into the right to receive $27.50 in cash.
• Mubadala Investment Company PJSC, through its subsidiaries, held shares in Endeavor and is reporting the change in beneficial ownership.
• Fifteenth Investment Company LLC, a wholly-owned subsidiary of Mamoura Diversified Global Holding PJSC, directly held the securities.
• Mamoura Diversified Global Holding PJSC is a wholly-owned subsidiary of Mubadala Investment Company PJSC.
• Mubadala may have been deemed to have formed a 'group' with Silver Lake affiliates for purposes of Section 13(d) of the Securities Exchange Act of 1934.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive as the transaction represents a successful exit for shareholders with a cash payout. The completion of the merger is a positive event for those involved.

Positives

• Shareholders received $27.50 in cash for each share of Endeavor's common stock.

Future Outlook

The document does not contain specific forward-looking statements beyond the completion of the merger.

Industry Context

This announcement reflects a trend of private equity firms acquiring publicly traded companies, particularly in the media and entertainment sectors. Silver Lake's acquisition of Endeavor aligns with their strategy of investing in and growing companies in these industries.

Comparison to Industry Standards

• The acquisition of Endeavor Group Holdings by Silver Lake is similar to other large private equity deals in the media and entertainment space, such as the acquisition of WWE by Endeavor itself to form TKO Group Holdings.
• The $27.50 per share price represents a premium paid to shareholders, which is a common feature in merger and acquisition transactions.
• Comparable companies that have undergone similar transactions include those in the media, sports, and entertainment industries that have been targeted by private equity firms seeking to leverage their expertise and capital.

Stakeholder Impact

• Shareholders received $27.50 per share in cash.
• Employees may experience changes as the company transitions to private ownership.
• The acquisition could lead to strategic shifts in the company's operations and partnerships.

Key Dates

Keywords

Endeavor Group Holdings, Mubadala Investment Company, Silver Lake, Merger, Acquisition, Beneficial Ownership, Form 4