Madison Square Garden (MSG) 'Welcomes' Silver Lake Investment

Madison Square Garden (NYSE: MSG) issued the following statement to StreetInsider.com on the newly disclosed position from Silver Lake.

"We welcome investors who appreciate our efforts to create long-term value," MSG spokesperson Kimberly Kerns said in an e-mail to StreetInsider.

In a 13D disclosure late Friday, private equity firm Silver Lake disclosed a newly accumulated 5% stake. Silver Lake said it bought shares based on the view that they are undervalued relative to its asset value. Silver Lake also said it would like to support the company and its efforts to create long-term value.

Shares of MSG are up 6.7% Monday amid the new stake.

You May Also Be Interested In

• Fisker (FSR) files form 10-K, sees more job cuts, reiterates going concern doubts
• Siebert Financial Corp (SIEB) Receives Nasdaq Non-compliance Notice
• YY Group Holding (YYGH) Closes $5M IPO