Sotheby’s Sells Itself to One Rich Collector

Business

Sotheby’s (NYSE:BID) has been a publicly traded business for more than 30 years, but Patrick Drahi, who founded the France-based telecom and mass media giant Altice, made a bid for the British auction house with a premium that its shareholders will not be able to turn down. In this segment of the Market Foolery podcast, host Chris Hill and Motley Fool Director of Small Cap Research Bill Mann break down the deal and consider why Sotheby’s may be better off after it exits the public markets. To catch full episodes of all The Motley Fool’s free podcasts, check out our podcast center. A full transcript follows the video.

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