WWE and UFC merging under Endeavor’s roof is a landmark deal for sports entertainment. It will go on to change a lot about how WWE operates as well, and employees are nervous about what’s to come. That being said, a new lawsuit is going to seek to stop that merger.
According to a press release by Julie & Holleman LLP, a law firm representing shareholders, they are currently examining the potential acquisition of WWE by Endeavor and have expressed their intent to pursue legal action over the matter.
You may check out the full press release below, which details everything in their complaint.
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 firstname.lastname@example.org or by telephone at (929) 415-1020.
UFC and WWE’s merger is a billion-dollar deal, and Endeavor is not going to stop due to this impending lawsuit. Ringside News exclusively reported that fans want to see Vince McMahon fired as well, but there’s nothing that they can do about it now. This deal is already in process and there’s no backing down.
The government is the only entity that can stop this deal from going on. UFC and WWE will soon be traded under one TKO stock, but the name of their new company hasn’t been revealed just yet. Only time will tell if something gets in the way of this merger’s finalization.
We will keep a close eye on this topic, right here at Ringside News. In the meantime, UFC and WWE are going forward with things as planned.
What’s your take on this impending deal? Do you think that WWE and UFC merging is a bad thing? Sound off in the comments!