MITB 2023 will be the last PLE/PPV of Vince McMahon’s 41 years of controlling ownership partner of WWE.
**The applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, in connection with the Transactions expired at 11:59 p.m., Eastern Time, on June 16, 2023. **
**In addition, as of this filing, all required foreign regulatory approvals have been obtained.
(Base on my knowledge because of past corporate deals )Had the the deal not been approved, the FTC (Federal Trade Commission) and DOJ (Department Of Justice) would have responded to Endeavor & WWE with request for more information. Had such request of more information not been satisfactory, U.S. Government would had expand the time period which have lead to a rejection of the Transition/and/or Investigation of the Transition.
But hence no such request, so the TKO Group goes live no later than the week of SummerSlam.
Interesting to know. Good for their sake that the merger has been approved, as I’ve been following the process of Microsoft trying to buy Activision Blizzard, and that has been a looooooooong process, with the FTC less welcoming to it.
Endeavor has their legal staff and Law firm relationships. This area where WWE’s department is completely redundant, and both Endeavor & WWE promised Wall Street up to $100 million in annual savings at TKO while adding a $50 million services fee paid to Endeavor.
That’s pretty much WWE Corporate that will be axed…
Typical M&A item, but I’m surprise that Dave Meltzer couldn’t gasp typical M&A items.