Silver Lake, Endeavor Face Bid to Block $13 Billion Buyout (2)

A Swedish bank is suing Endeavor Group Holdings Inc. and Silver Lake affiliates, challenging the entertainment conglomerate’s planned $13 billion take-private buyout.

The private equity giant is wielding its 71% stake to squeeze out minority investors at an unfair price, $27.50 a share, as part of a transaction that lets Endeavor insiders like CEO Ari Emanuel roll over their stakes on more favorable terms, according to the shareholder lawsuit filed in Delaware.

The deal’s structure violates a clause in Endeavor’s corporate charter requiring public stockholders to get the same treatment as insiders in any merger or acquisition, the suit says. ...