Juventus Fan Token Sinks 13% After $1.3B Tether Bid Rejected
CoinDesk
Juventus Fan Token (JUV) dropped over 13% after Tether's $1.3B takeover bid for the club was rejected by controlling shareholder Exor.Summary
The Juventus Fan Token (JUV) experienced a significant decline, falling more than 13% from its intraday peak, after stablecoin issuer Tether's €1.1 billion ($1.3 billion) takeover bid for Juventus Football Club was rebuffed. This drop contrasted sharply with the club's publicly listed shares, which surged over 14% on the news. Tether, already the club's second-largest shareholder with an 11.53% stake, made an all-cash proposal to buy Exor's 65.4% holding at a 21% premium. However, Exor, the Agnelli family-controlled holding company, publicly stated it has "no intention of selling any of its shares in Juventus to a third party, including but not restricted to El Salvador-based Tether."
(Source：CoinDesk)