SFX CEO Sillerman Makes Offer To Take EDM Conglomerate Private
Controversial SFX Entertainment CEO Robert Sillerman has made an offer to take the electronic dance music conglomerate private at a value of about $440 million. The announcement sent the stock up as much as 26%, but still below the $4.75 per share in cash offered by Sillerman.
Today's offer is just the beginning.
Rich Tullo, director of research at Albert Fried & Co called today's offer a "low ball price" and "a joke".
Shareholders and Wall Street will likely demand price which could open up the bidding to all. Live Nation, AEG and an Irving Azoff led conglomerate would all seem possible buyers/