Daily Market Updates: Endeavor seeks to strip Icahn and hedge funds of profits from $25bn buyout challenge

ETFs & Funds

Home›ETFs & Funds›Equity Funds›Endeavor seeks to strip Icahn and hedge funds of profi…

Endeavor seeks to strip Icahn and hedge funds of profits from $25bn buyout challenge

Reported · Written up by our desk · Equity Funds

Endeavor Group Holdings has filed a federal lawsuit seeking to recover profits made by Troluce Capital Advisors through an arbitrage strategy challenging its $25bn acquisition by private equity firm Silver Lake, according to a report by Bloomberg. The lawsuit, filed in New York, alleges that Icahn Enterprises and Troluce accumulated substantial stakes in Endeavor following the announcement of Silver Lake's $27.50-per-share buyout, with the intention of using shareholder litigation to secure a higher valuation. Endeavor claims the investors coordinated their trading activities and collectively

Latest closeSilver $54.52 ▲0.8%

← Newer storyMillennium reportedly hires Balyasny equity derivatives trader to lau…Older story →Arini losses deepen to 26% as European junk bond selloff accelerates

More like this

ETFs & FundsAll the reasons Marvell investors are ’freaking out’ as Lumentum deal rumors swirl

ETFs & FundsSituational Awareness targets $40bn Fluidstack valuation months after near-collapse

ETFs & FundsThis credit card is the ‘best weapon’ to fight debt while interest rates keep climbing

ETFs & FundsGet ready for the ‘Year of Starlink’ as airlines battle over superfast WiFi

ETFs & FundsYou can’t rely on the S&P 500 as much as you may think

Sources

HedgeweekEndeavor seeks to strip Icahn and hedge funds of profits from $25bn buyout challenge

ETFs & Funds

Endeavor seeks to strip Icahn and hedge funds of profits from $25bn buyout challenge

More like this

Sources

Get the close, explained.