Exor Rejects Tether's Acquisition Proposal for Juventus

According to Odaily, Exor, the holding company of Juventus Football Club, announced on Saturday that its board of directors unanimously rejected a comprehensive acquisition proposal from Tether. Tether had previously submitted a binding all-cash offer to acquire Exor's 65.4% controlling stake in Juventus at a price of 2.66 euros per share, valuing the club at slightly over 1 billion euros. If successful, Tether planned to launch a full tender offer for the remaining shares and invest up to an additional 1 billion euros to support the club's development. Exor CEO John Elkann stated, "Juventus, our history, and our values are not for sale." Exor reiterated its intention not to sell any of its Juventus shares to third parties. Since February, Tether has increased its stake in Juventus to over 10% and successfully nominated Francesco Garino to the board last month.