Juventus rejects Tether takeover offer… Exor "No intention to sell"

An acquisition offer of more than 1 billion euros (about 1 trillion won) from stablecoin issuer Tether (USDT) to acquire Italian football club Juventus FC was officially rejected by the club's major shareholder.

On the 15th (local time), according to Cointelegraph, Exor, the holding company of the Agnelli family that has owned Juventus for over 100 years, said in a board resolution the previous day that "it unanimously rejected the informal acquisition proposal submitted by Tether" and "reaffirmed its previous position that it has no intention of selling Juventus shares to a third party." Exor drew a line, saying it will not sell shares to any third party, including El Salvador-based Tether.

Earlier, Tether announced that on the 13th it had submitted a binding offer to acquire for cash all of Exor's 65.4% stake in Juventus. If Exor accepted the offer, Tether planned to launch a public tender offer for the remaining shares at the same price.

According to Reuters, Tether's proposed acquisition price was €2.66 per share, which implies a company value slightly above €1 billion. Juventus closed at €2.19 per share on the 13th, with a market capitalization of about €944.49 million. Meanwhile, Tether had not issued a separate statement following Exor's official announcement.