Added to YB: 2024-10-04
Pitch date: 2024-10-03
EDR [bullish]
Endeavor Group Holdings, Inc.
+0.94%
current return
Author Info
Northeastern University Student Value Fund is the premier investment fund at Northeastern University. Visit their website.
Company Info
Endeavor Group Holdings, Inc. operates as a sports and entertainment company in the United States, the United Kingdom, and internationally.
Market Cap
$9.5B
Pitch Price
$28.98
Price Target
31.00 (+6%)
Dividend
0.82%
EV/EBITDA
34.40
P/E
-25.62
EV/Sales
2.92
Sector
Entertainment
Category
special_situation
Long: Endeavor (NYSE: EDR) – Risk Arbitrage
EDR: Arb opp due to TKO stake value gain (+$3bn) since Silver Lake bid. Shareholders entitled to reappraisal rights post-close. Est. fair value $34-35/sh vs $27.50 bid. Silver Lake likely to raise bid to ~$31 to avoid court. 25%+ upside with asymmetric risk/reward. TKO catalysts & UFC media rights renewal in 2025 provide further upside.
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