Looks like Sotheby's may be putting itself on the auction block ...
Alfred Taubman, the former chairman of Sotheby's who was sentenced in April to a year and a day in prison for his role in a price-fixing scheme with his counterpart at the archrival Christie's, said yesterday that he was working with Sotheby's officials to explore a possible sale or merger of the auction house or the sale of his stake. In a filing yesterday with the Securities and Exchange Commission, Mr. Taubman said he would not sell his Sotheby's shares for 90 days without the company's consent.
Go to Article from The New York Times
Go to Article from The Financial Times
Mr. Taubman may sell his controlling stake in the auction house to French billionaire Bernard Arnault, according to The New York Post. Mr. Arnault, who runs the luxury goods conglomerate LVMH, has long expressed an interest in buying Sotheby's.
Go to Article from The New York Post
Tuesday, June 04, 2002
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