Loeb to join Sotheby's board

|About: Sotheby's (BID)|By:, SA News Editor

Sotheby's (BID) and Third Point come to a deal, with Third Point agreeing to drop its proxy challenge, and Sotheby's killing its poison pill. Daniel Loeb and two other Third Point nominees will join Sotheby's board, and the hedge fund's ownership stake will be capped at 15%.

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