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Sotheby's to be taken private by French billionaire Patrick Drahi

Art auction house Sotheby's said on Monday it would be taken private for $2.66 billion by a company owned by Altice Europe founder Patrick Drahi.

June 17 (Reuters) - Art auction house Sotheby's BID.N said on Monday it would be taken private for $2.66 billion by a company owned by Altice Europe founder Patrick Drahi.

Sotheby's shareholders will receive $57 in cash per share held.

The offer represents a premium of 61% to Sotheby's Friday close.

(Reporting by Nivedita Balu in Bengaluru; Editing by Sriraj Kalluvila)

((Nivedita.Balu@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 6749 4822; Reuters Messaging: Nivedita.Balu.thomsonreuters.com@reuters.net))

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