(Disclosure: Rose Law Group represents Barrett-Jackson)
By Brandon Brown | Phoenix Business Journal
IMG, the New York-based sports, media and fashion management company, acquired the majority share of Barrett-Jackson, the Scottsdale-based collector car auction company, for $261.25 million, the two firms announced Thursday.
Under the deal, IMG has agreed to acquire 55% of Barrett Jackson for $248,725,003.65 in cash and 563,935 newly-issued shares of Endeavor Group Holdings Inc. (NYSE: EDR) class A stock. Endeavor is a sports, media and entertainment conglomerate and the parent company of IMG.