Stablecoin giant Tether makes $1B bid to buy Juventus FC
Tether submitted a binding $1.1 billion all-cash offer to fully acquire Juventus FC from its controlling shareholder, Exor, which reportedly rejected the bid.Summary
Stablecoin issuer Tether announced it submitted a binding, all-cash proposal to Exor, the Agnelli family's holding company, to acquire its 65.4% controlling stake in Juventus Football Club, with plans to subsequently offer a public purchase for the remaining shares at the same price. The offer values the club, which has a market capitalization around $1.1 billion, at that level. However, reports indicate that Exor has already rebuffed the bid, stating that "Juventus is not for sale." Tether CEO Paolo Ardoino emphasized the company's strong financial health and commitment to investing 1 billion euros ($1.1 billion) for the club's support and development if the transaction were to complete. Tether has been increasing its involvement with Juventus, having first acquired a stake in February and later boosting it to over 10%, successfully nominating two representatives to the club's board of directors.
(Source：Cointelegraph)