Endeavor Group to acquire WWE in $9.3 billion deal

Endeavor Group Holdings Inc said on Monday it would acquire entertainment firm World Wrestling Entertainment Inc in a deal valued at $9.3 billion.

Shares of WWE were down 4.5 per cent in trading before the bell, while Endeavor, the parent of the popular UFC mixed martial arts franchise, was up 4 per cent.

Under the agreement, Endeavor shareholders will own 51 per cent of the combined company, while WWE shareholders would get 49 per cent.