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Endeavors Take-Private Sparks Hedge Fund Face-Off With Silver Lake Over Buyout Price
2025-04-24 16:45:02| Spiritual Career Counseling
Logo textLast month, shortly before Silver Lake completed its $25 billion deal to take Endeavor private, Carl Icahn disclosed that he had acquired a massive stake in Endeavor.By appearances, it was an unusual buy. Endeavor had been trading above the $27.50 per share stockholders were slated to receive as part of the deal for most of the past year. He saw a play hedge funds have been jumping on in recent months: a form of merger arbitrage that could force Silver Lake to increase its payout to investors.Several funds are taking to Delaware Chancery Court seeking revaluation of their shares. On Thursday, four funds filed petitions targeting the transaction. They join at least eight others, including Fifth Lane Partners Fund and North Commerce Parkway Capital, as well as affiliates of HBK Capital Management Group LP and UBS Group AG, thatve already done so. Their gambit revolves around the nearly 75 percent surge in TKO Group Holdings stock, the majority of which is owned by Endeavor, sin...
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