SFX Fails In Bid To Go Private

The company's share price has plummeted after Robert Sillerman's August 13th deadline passed.

Robert Sillerman's plan to take SFX private has fallen through.

The EDM promoter, which owns Beatport and several other dance music-focused companies including React Presents, Made Event and i-Motion has been restructuring with a view to chairman and CEO Sillerman buying the company.

Now, as Billboard report, Sillerman's offer of $5.25 per share became untenable as SFX's stock dropped 20% to $1.55 per share. The company has since released a statement saying it is exploring "strategic alternatives" in regards to its future. The statement added that the company would consider offers on the company until October 2nd.

Author

Aaron Coultate

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