Sotheby’s, the 275-year-old auction house, is getting acquired by billionaire media mogul Patrick Drahi (BID)
|06/17/2019||Posted by BusinessMediaguide.Com under General World News||
- Sotheby’s shares spiked nearly 60% Monday after the auction house said BidFair USA, owned by the Altice founder Patrick Drahi, was acquiring it for $3.7 billion.
- The price tag marks a hefty 61% premium to Sotheby’s closing price the session prior.
- The acquisition is the second notable deal under Drahi this spring. In late April, Altice USA said it was buying the financial news video startup Cheddar.
- Track Sotheby’s stock price here in real time.