TKO Group (TKO) disclosed that on April 4, Endeavor (EDR) entered into a stock purchase agreement with Vincent McMahon, pursuant to which Endeavor agreed to purchase 1,642,970 shares of class A common stock of TKO, held by McMahon, at a per share price of $89.01 for an aggregate amount of $146.2M. On April 7, TKO entered into a stock purchase agreement with the McMahon, pursuant to which TKO agreed to purchase 1,853,724 shares of common stock of TKO held by McMahon at a per share price of $89.01 for an aggregate amount of $165M. TKO intends to fund the share repurchase with approximately $150M of borrowings under its revolving credit facility.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on TKO:
- TKO Group (NYSE:TKO) Rallies as Vince McMahon Offloads Shares
- M&A News: Silver Lake Takes Endeavor Private in $13B Deal
- TKO Group rallies 4% to $89.43 after Endeavor buyout by Silver Lake
- Silver Lake acquires Endeavor Group for $27.50 per share or $13B
- Smith & Nephew partners with UFC as sports medicine technology provider
