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Silver Lake challenges Carl Icahn over appraisal arbitrage claims
Silver Lake filed the lawsuit on September 21 targeting Icahn's challenge to its roughly $25 billion acquisition of Endeavor Group Holdings.
Silver Lake has launched a legal challenge against activist investor Carl Icahn, seeking to limit appraisal rights disputes tied to merger and buyout valuations, according to Hedgeweek citing a Bloomberg report.
The private equity firm filed the lawsuit on September 21 targeting Icahn's challenge to Silver Lake's roughly $25 billion acquisition of Endeavor Group Holdings, the parent of TKO Group Holdings, which owns UFC and WWE.
The dispute centers on appraisal arbitrage, where investors buy shares after a deal is announced and then ask Delaware's Chancery Court to determine whether the agreed price fairly reflects the value of their holdings.
Silver Lake's complaint alleges that Icahn worked with dozens of investment funds to pursue appraisal claims related to the Endeavor transaction, and it seeks to challenge the legal basis that allows those claims regardless of when the shares were acquired or the investors' reasons.
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