Two Drahi offers competing in preparation for Sotheby's, NY Post



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TWO DRAHI RIVAL OFFERS IN THE PREPARATION OF SOTHEBY, IN ACCORDANCE WITH POST OF NY

(Reuters) – Two counter-offers from rival Patrick Drahi are in the pipeline for Sotheby's, despite a $ 3.7 billion (3.3 billion euro) deal announced on Monday between businessman Franco and the famous auction house, the New York Post reports Friday.

According to the paper, quoting sources close to the talks, wealthy New York art lovers are joining forces to prepare an offer superior to that of Patrick Drahi.

The identity of these potential associates is not known, but there are rumors that they are famous businessmen on Wall Street for their art collections, such as Blackstone CEO Stephen Schwarzman. continues the New York Post.

At the same time, Taikang Asset Management, a Hong Kong-based asset manager and Sotheby's largest shareholder with a 17% stake, is also considering bidding higher than the founder of the media group and telecommunications Altice. source quoted by the newspaper.

Patrick Drahi is offering $ 57 per share to Sotheby's stockholders, a 61% premium over the last closing price before the announcement of the deal. This amount, however, corresponds to the Sotheby's stock price a year earlier.

Shares of Sotheby's rose 1.8 percent to $ 57.55 on Wall Street.

NOTE: This information has not been verified by Reuters, which does not guarantee its accuracy.

(Bertrand Boucey for the French service, edited by Patrick Vignal)

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