Back to Insights- Remove
Shorter Reads
Sotheby’s bought by French billionaire for $3.7bn
1 minute read
Published 18 June 2019
Authors
- Visit profile
Ragavan Arunachalam
Partner
- Read more from Ragavan
Key information
- Services
- Remove
Sotheby’s recent troubles are well documented. From fending off the aggressive overtures of various hedge funds, to streamlining its business in an increasingly chaotic market, it has not always been able to focus on the business of selling art.
Having found its White Knight in Patrick Drahi, and with the art auction market picking up, hopefully the business can move forward free of the increased regulatory burden and cost all listed companies face, and focus on delivering a good return for its sole shareholder free from outside interference.
The 61% premium paid to shareholders will look like good business if Sotheby’s can build on its recent high profile sales.
Written by Ragavan Arunachalan, a Senior associate in our Corporate team.
Shorter Reads
Sotheby’s bought by French billionaire for $3.7bn
Published 18 June 2019
Sotheby’s recent troubles are well documented. From fending off the aggressive overtures of various hedge funds, to streamlining its business in an increasingly chaotic market, it has not always been able to focus on the business of selling art.
Having found its White Knight in Patrick Drahi, and with the art auction market picking up, hopefully the business can move forward free of the increased regulatory burden and cost all listed companies face, and focus on delivering a good return for its sole shareholder free from outside interference.
The 61% premium paid to shareholders will look like good business if Sotheby’s can build on its recent high profile sales.
Written by Ragavan Arunachalan, a Senior associate in our Corporate team.
Need some more information? Make an enquiry below.
Subscribe
Please add your details and your areas of interest below
Article contributor
Ragavan
ArunachalamPartner
Specialising in Corporate, Commercial, Corporate recovery, restructuring & insolvency and Private equity
Enjoy reading our articles? why not subscribe to notifications so you’ll never miss one?
Subscribe to our articlesMessage us on WhatsApp (calling not available)
Please note that Collyer Bristow provides this service during office hours for general information and enquiries only and that no legal or other professional advice will be provided over the WhatsApp platform. Please also note that if you choose to use this platform your personal data is likely to be processed outside the UK and EEA, including in the US. Appropriate legal or other professional opinion should be taken before taking or omitting to take any action in respect of any specific problem. Collyer Bristow LLP accepts no liability for any loss or damage which may arise from reliance on information provided. All information will be deleted immediately upon completion of a conversation.
Close
