Juventus shares jump after Tether bid rejected
Shares of Juventus Football Club surged about 13% on Monday after majority owner Exor NV rejected an unsolicited €1.1 billion takeover offer from crypto firm Tether Holdings.
Tether, the issuer of the USDT stablecoin, offered €2.66 per share in cash to buy Exor’s 65.4% stake, implying a roughly 20% premium to the prior closing price, News.Az reports, citing foreign media.
Exor convened a weekend board meeting and unanimously dismissed the proposal, saying the club “is not for sale.”
Exor CEO John Elkann said Juventus’ history and values were non-negotiable, noting the club has been part of his family for more than a century.
Tether disclosed earlier this year that it had built a 10.7% stake in Juventus and said it was prepared to invest up to €1 billion to support the club’s long-term development—making Juventus one of the first major European clubs with a crypto firm among its largest shareholders.
Analysts said the bid undervalued the club. Kepler Cheuvreux noted the offer was below Juventus’ 12-month peak of €3.56 and implied an EV-to-revenue multiple of about 3.3x, lower than comparable transactions. Applying peer benchmarks, the broker estimates a materially higher equity value than that suggested by Tether’s proposal.
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