MADRID (dpa-AFX) - Exor N.V. announced Saturday that its Board unanimously rejected an unsolicited proposal from Tether Investments, S.A. de C.V. to acquire all of Exor's shares in Juventus Football Club S.p.A.
Exor reaffirmed its consistent position that it has no intention of selling its stake in Juventus to any third party, including Tether.
On Friday, Tether submitted a binding all-cash proposal to acquire Exor's entire stake in Juventus, representing 65.4 percent of the Club's issued share capital. Subject to regulatory approvals, Tether also intended to launch a public offer for the remaining shares at the same price, fully funded with its own capital and backed by a long-term commitment to the Club.
The proposal emphasized Tether's belief in Juventus as more than just a football club, highlighting its tradition of discipline, ambition, and resilience, as well as its role in shaping Italian sporting identity and earning global loyalty from supporters.
Had the transaction been accepted, Tether stated it was prepared to invest 1 billion euros in the support and development of Juventus.
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