November 22, 2024 12:30 am
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New York firm acquires majority share of Barrett-Jackson

(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.

Read the full subscription story from the Phoenix Business Journal.

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