April two (Reuters) – Endeavor Group Holdings Inc (EDR.N), the parent of the preferred UFC mixed martial arts franchise, is in talks to obtain Globe Wrestling Entertainment Inc (WWE) (WWE.N) in an all-stock deal, according to folks familiar with the matter.

The sources requested anonymity due to the fact the matter is confidential. Endeavor and WWE did not promptly respond to requests for comment.

The deal could be announced as quickly as Monday, according to CNBC. Endeavor shareholders will personal 51% of the combined organization, though WWE shareholders would get 49%, CNBC reported, citing sources.

Endeavor, which is the parent organization of the preferred UFC mixed martial arts organization, is led by Hollywood energy broker Ari Emanuel, who earlier this month declined to answer concerns about a attainable offers.

WWE shares, which have risen far more than 30% this year, closed at $91.26 on Friday, providing the organization a industry capitalization of $six.eight billion. Endeavor has a industry worth of $11.three billion.

In January, WWE stated it would discover strategic alternatives that could contain a sale, shortly right after Vince McMahon’s return to the organization. WWE hired the Raine Group and law firm Kirkland &amp Ellis as its advisers for the evaluation.

McMahon had retired in July final year as the company’s CEO and chairman, following an investigation into his alleged misconduct. He returned as the executive chairman of the media and entertainment company’s board right after co-chief executive officer and chairwoman Stephanie McMahon stepped down.

Immediately after his return, McMahon took handle and launched the strategic evaluation, right after generating some adjustments to the company’s board.

Reporting by Milana Vinn and Aniban Sen in New York and Dawn Chmielewski in Los Angeles
Editing by Matthew Lewis

Our Requirements: The Thomson Reuters Trust Principles.

Milana Vinn

Thomson Reuters

Milana Vinn reports on technologies, media, and telecom (TMT) mergers and acquisitions. Her content material ordinarily seems in the markets and offers sections of the internet site. Milana previously worked at GLG and PE Hub, exactly where she spent quite a few years covering TMT offers in private equity. She graduated from CUNY Graduate College of Journalism with Masters in Business enterprise Journalism.
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