Sotheby’s said Thursday its shareholders approved the $3.7bn sale of the auction house to billionaire telecoms executive and art collector Patrick Drahi. The deal with Mr Drahi’s BidFair USA received support from 91 per cent of the shares voting at a special meeting held in New York. Sotheby’s said the transaction, which is subject to customary conditions, remains on track to close in the fourth quarter this year.
Sotheby’s said Thursday its shareholders approved the $3.7bn sale of the auction house to billionaire telecoms executive and art collector Patrick Drahi. The deal with Mr Drahi’s BidFair USA received support from 91 per cent of the shares voting at a special meeting held in New York. Sotheby’s said the transaction, which is subject to customary conditions, remains on track to close in the fourth quarter this year.
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