SAN DIEGO, April 03, 2024 (GLOBE NEWSWIRE) — Johnson Fistel, LLP, a leading stockholder rights law firm, announced today that it has initiated an investigation into the board members of Endeavor Group Holdings, Inc. (NYSE: EDR) (“Endeavor”) concerning potential breaches of fiduciary duties related to the proposed sale of the Company to Silver Lake.
On April 2, 2024, Endeavor informed the public that it has agreed to a deal with Silver Lake, in which stockholders will receive $27.50 per share in an all-cash offer. Upon completion of the deal, Endeavour will be a private Company. The transaction will be financed through a combination of new and reinvested equity from Silver Lake and additional capital from several sources including equity rolled over by members of the Endeavor management team.
Johnson Fistel’s investigation focuses on whether Endeavor’s board failed to satisfy its duties to the Company’s stockholders, including whether the board sufficiently pursued alternatives to the acquisition, and whether the board secured the best possible price for Endeavor’s shares. This is particularly pertinent given analyst projections for earnings and revenue growth, Endeavor’s $1 billion in cash. Additionally, change of control provisions for key executives could potentially trigger millions of dollars in change of control payouts upon completion of the deal.
Stockholders of Endeavor are encouraged to contact Johnson Fistel to discuss their legal rights in this matter. You can click or copy and paste the following link to join this investigation:
https://www.johnsonfistel.com/investigations/endeavor
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