Endeavor Shares Rise on Prospects for Sale to Silver Lake (1)

Endeavor Group Holdings Inc. rose in New York on controlling shareholder Silver Lake Management’s plans to buy out minority investors and sell some assets of the entertainment company.

Shares of Endeavor gained as much as 5.4%. They were up 4.3% to $24.03 at 10:47 a.m. in New York.

The group’s bid will be delivered in coming weeks to Endeavor’s independent directors, who will hire advisers to evaluate the terms and make a recommendation, according to people with knowledge of the plans who asked not to be identified discussing private deliberations.

Silver Lake, which holds a 71% voting stake in ...