A Sotheby's takeover?

August 27 2013

Image of A Sotheby's takeover?

Picture: Google Finance

Bloomberg reports that the US hedge fund Third Point is targeting Sotheby's for a possible takeover. The head of the hedge fund, Daniel Loeb, collects post-war and contemporary art.

In my long list of Clever things I never quite got round to doing was buying Sotheby's shares shortly after the financial crash. In early 2009 you could buy a Sotheby's share for as little as $6.47. Now they're trading at $47.21.

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