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November 27, 2020

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Vital rare coin & paper money industry updates

Sothebys to sell for $3.7 billion, go private

John Feigenbaum · Jun 17, 2019
Announcements Featured

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 medi





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┬ávery interesting to see how this development affects M&A among other large auction companies like Christie’s, Heritage, and eBay.



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John Feigenbaum



The Publisher and managing partner at CDN Publishing, John Feigenbaum, has been a professional numismatist since 1979. Formerly president of David Lawrence Rare Coins, John has taken on Publishing and executive responsibilities for CDN Publishing. John has written for numerous trade publications and published "The Complete Guide to Washington Quarters" in 1991. In 2014, John received the PNG Abe Kosoff Founders Award for "his steadfast dedication to the entire numismatic community".

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