Silver Lake's $13 billion acquisition of Endeavor Group Holdings has sparked legal disputes, with hedge funds and investors filing lawsuits in Delaware's Court of Chancery. The lawsuits, seeking over $1 billion in appraisal rights, claim that the deal undervalued Endeavor's shares. The plaintiffs argue that Silver Lake, which already held significant voting rights in Endeavor, effectively sold the company to itself at a price of $27.50 per share, which they allege does not reflect the fair value of the company. Hedge funds, including affiliates of UBS Group AG and HBK Capital Management Group, as well as Carl Icahn, are among those challenging the transaction. The lawsuits also highlight a 75% surge in the value of TKO Group Holdings, a key Endeavor asset, since the deal was announced. Investors claim that the transaction failed to account for this increase in value, further undervaluing their shares. Breach of fiduciary duty lawsuits targeting Endeavor executives, including Ari Emanuel and Patrick Whitesell, are also expected to follow. Additionally, the appraisal rights process entitles shareholders to interest of 5% above the Federal Reserve rate, which currently amounts to approximately 9%, further incentivizing these legal challenges.