Private equity firm Silver Lake to take entertainment company Endeavor private at $27.50 a share

Private equity firm Silver Lake announced Tuesday that it’s acquiring entertainment company Endeavor Group Holdings for $27.50 a share.

Endeavor’s stock was halted ahead of the announcement.

Silver Lake will acquire 100% of the shares it does not already own. Endeavor is being acquired at an equity value of $13 billion, according to a release from the entertainment company.

“Since 2012, Endeavor’s strategic partnership with Silver Lake and Egon Durban have been central to our evolution into the global sports and entertainment leader we are today,” Endeavor CEO Ariel Emanuel said in a statement. “We believe this transaction will maximize value for all of Endeavor’s public stockholders and are excited to continue to unlock and invest in the growth opportunities ahead as a private company.”

This is breaking news. Please check back for updates.