Exor unanimously rejects Tether’s $1.3 billion bid to acquire Juventus football club

Exor, the holding company of Italy's Agnelli family, unanimously rejected Tether's $1.3 billion all-cash bid to acquire the Juventus football club within 24 hours of the offer being made public. Exor issued a statement confirming it has no intention of selling any of its 65.4% controlling stake to any third party, including Tether. Tether's offer represented a premium of about 21% over the closing price and included a pledge of an additional €1 billion for club development. This rejection is a setback for Tether's diversification strategy, which has seen investments in AI, robotics, and Bitcoin mining, despite the stablecoin giant reporting significant profits. Tether had previously acquired a minority stake in Juventus, increasing it to over 10% by April, and secured a board seat for its backed candidate, signaling a desire for deeper collaboration.

(Source：The Block)