Juventus Owner Exor Rejects Tether's €1.1 Billion Takeover Bid

Tether, the issuer of the world's largest stablecoin USDT, has had its €1.1 billion ($1.29 billion) takeover bid for Juventus FC rejected by the club's majority owner Exor. The offer, submitted on December 12, proposed purchasing Exor's 65.4% stake at €2.66 per share, with plans for a tender offer for remaining shares.

Tether CEO Paolo Ardoino, a lifelong Juventus supporter, said the club "has always been part of my life" and cited plans to invest €1.1 billion in the team's support and development. The company already holds approximately 10.7% of Juventus shares, making it the second-largest shareholder.

The bid comes as Tether diversifies beyond its core stablecoin business, which has a market capitalization exceeding $57.9 billion. This year, the company has invested approximately €1 billion in AI and robotics companies, expanded Bitcoin mining operations, and acquired gold reserves.

Meanwhile, the Agnelli family's Exor has been streamlining holdings amid Juventus' ongoing financial struggles. Despite winning 36 Italian championships—more than any other team—the club has faced financial difficulties since 2020 as larger European clubs grow increasingly dominant.