SFX Entertainment Shares Rise On Proposed Going-Private Transaction

Shares of SFX Entertainment Inc. SFXE are up sharply on Wednesday, following an announcement from Chief Executive Officer Robert Sillerman.

Sillerman proposed to the company’s Board of Directors a transaction through which Sillerman would purchase all outstanding shares not already owned by him for $4.75 per share.

Sillerman stated, “I have put forward a proposal that offers substantial value and flexibility to all shareholders. Given the inherent risks in our business, my offer guarantees a substantial premium to current price. Those shareholders who are interested in remaining as investors in the company alongside me will have the ability to elect to keep all or part of their shares.”

Shares of SFX Entertainment traded recently at $4.55 up 23%.