Under the agreement, Endeavor shareholders will own 51% of the combined company, while WWE shareholders would get 49%
Endeavor said the deal represents a contribution price of about $106 per share for WWE, which is about 16 per cent higher than the stock’s Friday closing.
Under the agreement, Endeavor shareholders will own 51 per cent of the combined company, while WWE shareholders would get 49 per cent. Shares of WWE were down 4.5 per cent in trading before the bell, while Endeavor, led by Hollywood power broker Ari Emanuel, was up 4 per cent. In January, WWE said it would explore strategic options that could include a sale, shortly after longtime CEO Vince McMahon’s return to the company as its executive chairman. It hired Raine Group and law firm Kirkland & Ellis as its advisers for the review.
McMahon had retired in July last year as the company’s CEO and chair, following an investigation into his alleged misconduct. Co-CEO Stephanie McMahon, who single-handedly managed the mantle when her father exited, resigned a week after he returned to the board in January.Your Globe
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
UFC parent Endeavor in talks to buy WWEEndeavor Group Holdings Inc, the parent of the popular UFC mixed martial arts franchise, is in talks to acquire WWE in an all\u002Dstock deal.
Read more »
SmackDown just the beginning as WrestleMania 39 ready to rumble over weekendWWE\u0027s Friday night show was all business from start to finish
Read more »
WRESTLEMANIA 39: Rey Mysterio immortalized with induction into WWE Hall of FameThe greatest small man in pro wrestling was immortalized with one of the best induction speeches in WWE Hall of Fame history on Friday
Read more »
RINGMASTER: Book pulls back curtain on WWE boss Vince McMahon Jr.On the eve of Wrestlemania 39, Vince McMahon Jr. once more sits atop the WWE.
Read more »
Betting on MMA: Strategies and tips for UFC and moreMMA offers a variety of betting options from the moneyline to parlays and futures wagers
Read more »
Betting on MMA: Strategies and tips for UFC and moreMMA offers a variety of betting options from the moneyline to parlays and futures wagers
Read more »