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RWC Partners Limited Opposes Sotheby’s Agreed Takeover by Patrick Drahi

August 26, 2019 at 01:25 pm EDT

On August 26, 2019, Sotheby’s announced that RWC Partners Limited has opposed the takeover by Patrick Drahi amid concerns that the offer price does not reflect the auction group's value.

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Sotheby's is a global art business company. The Company is engaged in offering its clients opportunities to connect with and transact in a range of objects. The Company offers a range of art-related services, including the brokerage of private art sales, private jewelry sales through Sotheby's Diamonds, private selling exhibitions at its galleries, art-related financing, and art advisory services, as well as retail wine locations in New York and Hong Kong. The Company operates through two segments: Agency and Finance. The Agency segment matches buyers and sellers of authenticated fine art, decorative art, jewelry, wine and collectibles (collectively, art or works of art or artwork or property) through the auction or private sale process. The Finance segment is engaged in art-related financing activities by making loans that are secured by works of art. The Company's advisory services are classified within All Other segment.

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RWC Partners Limited Opposes Sotheby’s Agreed Takeover by Patrick Drahi

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