Juventus Rejects Tether’s $1.2 Billion Cash Offer
The Italian soccer giant, Juventus, has made waves in the financial and sports markets after Exor, its majority owner, declined an all-cash $1.2 billion acquisition bid from Tether, one of the world’s leading stablecoin issuers. This bold decision sent Juventus stock soaring by 17%, reaching €2.56 ($3.01) per share, a remarkable gain amidst recent market fluctuations.
Exor’s Strong Stance Against Selling
Exor, the holding company with a controlling stake in Juventus, dismissed Tether’s offer, which valued the Serie A club at €1.1 billion ($1.29 billion) or €2.66 ($3.13) per share—approximately 21% higher than the previous closing price. In an official statement, Exor reiterated its intent to retain its stake in Juventus, stating, “Exor N.V. reaffirms its consistent stance that it has no intention of selling any of its shares in Juventus to third parties, including Tether.”
This firm decision reflects Exor’s confidence in the future potential of the club, despite its shares being down about 19% over the past year and more than 62% in the last five years. The current market capitalization of Juventus has now climbed to €924 million ($1.08 billion), a significant leap from its previously undervalued position.
Tether’s Expanding Investment Portfolio
While Tether’s proposal for Juventus was rebuffed, the company has been diversifying its investment portfolio aggressively. Recently, it participated in an $81 million seed round for an Italian robotics firm and made a substantial investment in Rumble, a YouTube competitor. These moves showcase Tether’s increasing presence in both technological and entertainment sectors as it aims to strengthen its financial footprint globally.
What’s Next for Juventus?
Juventus remains a dominant force in Italian soccer, though the club hasn’t claimed a Serie A title since the 2019-2020 season. With the rejection of Tether’s bid, it remains unclear whether Tether will revisit its acquisition ambitions or pivot to other opportunities. For fans and stakeholders, this decision underscores Exor’s long-term commitment to the club’s growth and stability.
Stay Tuned for the Latest in Sports and Business
This game-changing development in the crypto and sports arenas highlights the fusion of industries in today’s financial climate. For those navigating these intersections, staying informed is key. Whether it’s assessing market shifts or indulging in luxury soccer merchandise, you’ll want to stay ahead.
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