epa07654345 (FILE) -  Patrick Drahi (R), the founder of Altice, and Dexter Goei (L), the CEO of Altice USA, watch during the initial public offering of Altice USA, a cable and telecommunications company, on the floor of the New York Stock Exchange in New York, New York, USA, 22 June 2017, reissued 17 June 2019. Media reports on 17 June 2019 state that Sotheby’s (NYSE: BID) announced that it has signed a definitive merger agreement to be acquired by BidFair USA, an entity wholly owned by media and telecom entrepreneur as well as art collector, Patrick Drahi. Under the terms of the agreement, which was approved by Sotheby’s Board of Directors, shareholders, including employee shareholders, will receive 57.00 US dollars in cash per share of Sotheby’s common stock in a transaction with an enterprise value of 3.7 billion US dollars. The transaction would result in Sotheby’s returning to private ownership after 31 years as a public company traded on the New York Stock Exchange.  EPA/JUSTIN LANE *** Local Caption *** 53601088
Sotheby's has signed a definitive merger agreement to be acquired by BidFair USA, an entity wholly owned by media and telecom entrepreneur as well as art collector, Patrick Drahi (right).  EPA/JUSTIN

Billionaire Patrick Drahi snaps up Sotheby's in $3.7bn deal




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