The potential merger between WWE and UFC under Endeavor’s umbrella has been a hot topic in the sports entertainment world, with many speculating about its impact on both companies. However, a new development has arisen, as a law firm representing shareholders is reportedly examining the potential acquisition and intends to pursue legal action over the matter.
According to a press release by Julie & Holleman LLP, employees, and shareholders are concerned about the impact this merger could have on WWE’s operations and are seeking to prevent the acquisition by Endeavor. The press release details the complaint and the reasons behind their legal action.
The merger between UFC and WWE is expected to be a billion-dollar deal, with the new company set to be traded under the TKO stock. However, the impending lawsuit has raised questions about the potential roadblocks that could arise during the process.
Despite the lawsuit, it appears that Endeavor is committed to moving forward with the merger, and fans have already expressed their desire to remove Vince McMahon from his position. However, with the government being the only entity that can stop the merger from happening, the final outcome remains to be seen.
As this story continues to develop, it will undoubtedly be one to watch in the world of sports entertainment, as the potential merger between UFC and WWE could have far-reaching implications for both companies and their fans.
EDR SPECIAL ALERT: Endeavor Shareholders Interested in Pursuing Claims Regarding Merger with WWE Should Contact Shareholder Rights Firm Julie & Holleman LLP
Shareholder rights law firm Julie & Holleman LLP is investigating the proposed merger between Endeavor Group Holdings, Inc. (NYSE: EDR) and World Wrestling Entertainment, Inc. (NYSE: WWE), whereby the two entertainment giants will combine to form a new public company.
Julie & Holleman LLP is a boutique law firm that focuses on shareholder litigation, including derivative actions, mergers and acquisitions cases, securities fraud class actions, and corporate investigations. (PRNewsfoto/Julie & Holleman LLP)
To learn more about the investigation and potential legal claims, click here.
Endeavor is a global sports and entertainment company whose portfolio consists of the mixed martial arts organization UFC, sports and media company IMG, and entertainment agency WME. Endeavor is controlled by private equity firm Silver Lake, which holds about 70% of the company’s voting power. WWE is also a controlled company, with the majority of its voting power owned by Vincent K. McMahon.
Following the merger, which is expected to close in the second half of 2023, existing Endeavor shareholders will own 51% of the new company, and existing WWE shareholders will own 49% of the company.
Julie & Holleman is investigating potential legal claims regarding the fairness of the merger terms and potential conflicts of interest. Among other things, Silver Lake may have interests that diverge from other shareholders’ interests, and it could be using its controlling stake to extract unfair benefits. Julie & Holleman is also concerned that the proposed merger might have driven the sale of its IMG business to another private equity firm.
If you would like more information about Julie & Holleman’s investigation, or about the acquisition in general, please contact W. Scott Holleman by email at scott@julieholleman.com or by telephone at (929) 415-1020.
