June 17, 2019 / 1:19 PM / 4 months ago

Sotheby's to be taken private by French billionaire Patrick Drahi

June 17 (Reuters) - Art auction house Sotheby's said on Monday it would be taken private for $2.66 billion by a company owned by Altice Europe founder Patrick Drahi.

Sotheby's shareholders will receive $57 in cash per share held.

The offer represents a premium of 61% to Sotheby's Friday close. (Reporting by Nivedita Balu in Bengaluru; Editing by Sriraj Kalluvila)

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