Two Sotheby’s shareholders have sued in NY to block the planned $2.7 billion purchase of the auction house by French collector and telecom magnate Patrick Drahi’s BidFair USA, claiming that Drahi has not disclosed enough information. “As the vast majority of all public company mergers over $100 million are the subject of shareholder litigation, the lawsuits filed were expected and routine,” Sotheby’s said in an emailed statement. “We do not expect the suits to have any impact on our targeted closing timing of the fourth quarter of this year.”

Read more at Bloomberg

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