Silver Lake Partners increases stake in MSG to 9.7%. Says assets are undervalued.

Today private equity firm Silver Lake Partners (and its affiliates) filed a 13D disclosing an increased beneficial ownership in The Madison Square Garden Company (NYSE: MSG).

Silver Lake's first 13D filing disclosing ownership in MSG was made earlier this year in Feb. Based on the SEC filings, Silver Lake's average purchase price has been ~$233 per share.

In the Purpose of Transaction, Silver Lake make reference to MSG's assets being undervalued by the market. Taking a cursory look at MSG's balance sheet looks like there is not too much debt on those hard assets either, if that cursory examination is right this could be an ideal target for a leverage buyout which Silver Lake has experience with.

This is originally a post on my blog: 13D Filing Blog

This is not a recommendation, just info. See blog for full disclaimer.

Submitted December 26, 2018 at 01:03PM by CatalystActivist http://bit.ly/2EPeAY4