The Agnelli family’s investment company, Exor, has turned down a takeover offer from Tether, the issuer of the stablecoin USDT
Tether had offered to buy Juventus Football Club for more than $1 billion, but Exor’s board unanimously rejected the proposal.
Exor, which has owned Juventus for over a century, confirmed that Tether’s offer was unsolicited and that it had no plans to sell its shares.
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The company said in a statement, “Exor reaffirms its previous, consistent statements that 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”.
Tether announced on December 12 that it had submitted an all-cash bid for Exor’s 65.4% stake in Juventus. The company also said that if Exor accepted, it would extend the same offer to buy the remaining publicly traded shares.
Reports from Reuters stated that Tether’s offer was priced at 2.66 euros ($3.12) per share, which values Juventus at more than 1 billion euros ($1.17 billion).
In a video shared on the club’s official website, Exor CEO John Elkann emphasized:
Juventus has been a part of my family for 102 years. Juventus, our history, and our values are not for sale.
Exor added that both the company and the Agnelli family remain dedicated to the club’s future.
Recently, Tether announced its intent to take a more active role in the Italian football club Juventus. What did the company say? Read the full story.
