Juventus Shares Surge After Exor Rejects Tether’s Acquisition Bid
- Juventus shares rose by 17% on Monday, trading at approximately €2.56 ($3.01).
- Exor rejected Tether’s all-cash bid of €2.66 ($3.13) per share on Friday.
- The offer valued Juventus at around €1.1 billion ($1.29 billion).
- Exor confirmed no intention to sell its shares to third parties, including Tether.
- Despite the recent gain, Juventus shares have declined by approximately 19% over the past year.
Shares in Italian soccer club Juventus increased significantly after Exor rejected a buyout offer from Tether, which had previously acquired a minority stake in the club in February.
The rejection of Tether’s bid underscores Exor’s commitment to retaining its holdings in Juventus, as evidenced by the stock’s surge following the announcement and despite a longer-term decline in share value over recent years.
