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Sotheby's Taubman may sell shares
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THE disgraced former Sotheby's chairman Alfred Taubman, who was
sentenced to jail for his part in a price-fixing scandal, said
yesterday he was working with Sotheby's to explore a merger or sale
of the company, or the sale of his Sotheby's stake.
The New York auction house said it expects operating profits to
rebound this year, citing surprisingly strong sales in spring.
However, shares of Sotheby's edged down 19 cents to US13.82
dollars in late afternoon New York Stock Exchange trade.
Taubman, a successful shopping mall developer, owns about 13.2
million shares of Sotheby's Class B common ...
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