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Sothebys to sell for $3.7 billion, go private

by John Feigenbaum

Published on June 17, 2019

Sothebys Logo
Sothebys Logo


Sotheby’s (NYSE: BID) announced this morning that the firm’s board of directors agreed to be acquired in whole, and taken private, by art collector and media entrepreneur Patrick Drahi. Shareholders will receive $57 per share, about 60% over the stock price close on Friday.


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Sotheby’s (NYSE: BID) announced this morning that the firm’s board of directors agreed to be acquired in whole, and taken private, by art collector and media entrepreneur Patrick Drahi. Shareholders will receive $57 per share, about 60% over the stock price close on Friday. According to WikiPedia (link) Mr. Drahi is a resident of Geneva, Switzerland, with a net worth over $10 billion as of 2015. It will be very interesting to see how this development affects M&A among other large auction companies like Christie’s, Heritage, and eBay.



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