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Anschutz pulls Kings off the market
Anschutz announced the end of the heavily watched sale process on Thursday despite multibillion-dollar offers that the 73-year-old Denver dealmaker said might have led to successful negotiations for the privately-held company.
"I'm feeling energized and will be more active at AEG as chairman," the owner said during a rare conference call with selected reporters. "There was too much noise in the process, a lot of people talking off the record, and most of it inaccurate."
The deal, which he said "from the beginning had less than 50-50 chance of happening," drew non-biding bids of more than $1 billion less than the $8 billion people close to the process said Anschutz was seeking.
The sale process, which the company acknowledged on Sept. 19, was closely watched for its world-class assets and lofty price tag.
AEG's portfolio includes 120 owned or operated arenas around the world, the Los Angeles Kings professional hockey team, a stake in the Los Angeles Lakers basketball team, and a concert business.