TKO falls on $3.25 bln deal to buy some sports assets from Endeavor

Endeavor group

24/10/2024 13:14

** Shares of sports and entertainment firm TKO Group
Holdings  TKO.N  fall 2.4% to $122.99 premarket
    ** TKO will buy some of Endeavor Group Holdings'  EDR.N 
sports assets including Professional Bull Riders, On Location
and IMG in a deal valued at $3.25 bln
    ** EDR is expected to own about 59% of TKO after the
completion of the transaction possibly in the first half of 2025
    ** Earlier this year, private equity firm Silver Lake said
it would take EDR private for $13 bln
    ** Up to last close, TKO stock up ~54% this year

 (Reporting by Jaspreet Singh in Bengaluru)
 ((Jaspreet.Singh@thomsonreuters.com ; https://twitter.com/i_jass))