Telecom Titan Is Taking Sotheby's Private in $2.7 Billion Deal

Sotheby's experienced its best day since going public in 1988, as it announced a return to private ownership. The company is being acquired by Patrick Drahi for $2.7 billion, offering investors $57 per share, a 61% premium to the previous closing price. This move nearly erases a 40% drop in stock value over recent years. Major shareholders, including activist investor Dan Loeb, stand to profit significantly. Drahi, known for his telecom investments, expressed admiration for Sotheby's as an elegant brand and has been a long-time client, making this acquisition a blend of business and personal interest.

What was the percentage increase in Sotheby's stock price on its best day since going public?

• 57%

• 40%

• 61%

• 31%

Who is acquiring Sotheby's, and for how much?

• Talagang Titan for $3 billion

• Third Point for $3 billion

• Patrick Drahi for $2.7 billion

• Dan Loeb for $2.7 billion

What percentage of Sotheby's stock is owned by its top five shareholders?

• 40%

• 50%

• 60%

• 70%

How much profit did Dan Loeb reportedly make from his investment in Sotheby's?

• £50 million

• £85 million

• £70 million

• £100 million

What is Patrick Drahi's primary business interest, aside from his passion for art?

• Automobile industry

• Fashion brands

• Telecom companies

• Real estate