Robert Sillerman, CEO of SFX, failed to reach the Aug 13th deadline bid to take the company private.
The EDM promoter, which owns Beatport, React Presents, Made Event, and i-Motion has been trying to restructure the company by taking things private. According to Billboard report, Sillerman’s offer of $5.25 per share became unattainable 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.
Source: RA
