Tether Bids 1.1 Billion Euros for Juventus Stake, Rejected by Exor

Cryptocurrency firm Tether submitted a formal all-cash takeover bid worth approximately 1.1 billion euros for Juventus Football Club on Friday, targeting the controlling 65.4 percent stake held by Exor, the holding company of the Agnelli family. The Turin-based Serie A club, Italy's most successful football institution, immediately faced rejection from its long-time owners, who affirmed their commitment to retaining control.

Tether, issuer of the world's largest stablecoin USDT, already holds just over 10 percent of Juventus shares, acquired earlier this year. The company announced plans to extend a public tender offer for the remaining shares at the same price of 2.66 euros per share if Exor accepts the deal, potentially granting Tether full ownership. The bid represents a premium of about 20 percent over the club's pre-announcement stock value. Tether CEO Paolo Ardoino, a lifelong Juventus supporter, described the proposal as a strategic commitment backed by the firm's strong financial position. "As a boy, I learned what commitment, resilience, and responsibility meant by watching Juventus face success and adversity with dignity," Ardoino said in a statement. He emphasized...