Jun 17 2019 by Business Insider
Sotheby's shares spiked nearly 60% Monday after the auction house said BidFair USA, owned by the Altice founder Patrick Drahi, was acquiring it for $3.7 billion.
The price tag marks a hefty 61% premium to Sotheby's closing price the session prior.
The acquisition is the second notable deal under Drahi this spring. In late April,
Altice USA said it was buying the financial news video startup Cheddar.
Track Sotheby's stock price here in real time.
Sold!
Shares of Sotheby's spiked nearly 60%...
Continue Reading Sotheby's, the 275-year-old auction house, is getting acquired by billionaire media mogul Patrick Drahi (BID)
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