Tether’s Bid for Juventus Rejected by Exor
- Exor’s board unanimously rejected Tether’s all-cash bid for its 65.4% stake in Juventus.
- Tether proposed to invest an additional $1 billion in Juventus if the acquisition was accepted.
- Currently, Tether holds an 11.53% stake in the club, making it the second-largest shareholder.
- Juventus has faced financial challenges, requiring over €1 billion ($1.17 billion) in capital injections over the past seven years.
- Following Tether’s bid announcement, the price of Juventus-linked token JUV surged over 32%.
Exor emphasized its commitment to Juventus and described Tether’s offer as “unsolicited.” The club is currently navigating financial difficulties while maintaining a market capitalization around $988 million.
Despite Tether’s ambitions and a significant investment proposal, Exor remains dedicated to its ownership of Juventus, which has seen substantial financial support over recent years.(Source)
