TKO Group Holdings, Inc. (TKO) (NYSE: TKO), a premium sports and entertainment company, has announced it has reached a definitive agreement with Endeavor Group Holdings, Inc. (Endeavor) to acquire Professional Bull Riders, On Location, and IMG in an all-equity transaction valued at US$3.25 billion. In addition to complementing TKO’s existing core UFC and WWE businesses, the strategic acquisition of these sports and hospitality assets from Endeavor expands TKO’s operational footprint in the fast-growing premium sports market and enables direct participation in the upside from thriving leagues and legendary events.
Latham & Watkins LLP advised Endeavor in the transaction, with a corporate deal team led by New York partners Justin Hamill and Michael Anastasio, with associates Daniel Weissman and Nancy Zhu. Advice was also provided on intellectual property matters by Washington, D.C. partner Morgan Brubaker.
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