Shares of A.S. Roma (MIL: ASR), Italy’s Serie A football club, collapsed more than 55% after the U.S. billionaire Dan Friedkin submitted an offer to minority investors’ that is five times lower than the market price.
Dan Friedkin, the U.S. billionaire and CEO of the Friedkin Group, will pay nearly 600 million euros to buy an 86.6% stake in A.S. Roma from a consortium led by the U.S. businessman James Pallotta. Nearly 70% of these funds will go to cover the debts of the football club.
Remaining 13.2% of shares are owned by minority investors. In a letter to the Italian regulator, Friedkin extended the offer at 0.1165 euros per share to buy Roma’s minority investors’ holdings.
Ready to put what you’ve learned into practice?
Try IG’s platform with £10,000 in virtual funds and practise trading
without putting your own money at risk.
Try IG with a demo account →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Learn the markets with IG Academy
Build your knowledge with IG Academy educational content, then use a
demo account to practise what you’ve learned on the IG platform.
Explore IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
See how trading works before risking real money
IG’s demo gives you access to thousands of markets and £10,000 in
virtual funds, so you can explore the platform and test your ideas first.
Open an IG demo →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Turn trading theory into practical experience
Learn with IG Academy, explore charts and market tools, and practise
strategies in a simulated trading environment before going live.
Start practising with IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Ready to take your learning further?
IG combines market education, analysis and an established trading platform,
giving you the tools to keep learning as you develop your trading skills.
Discover IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
According to him, this is the price that he is paying to Pallotta and his group for the majority stake. Friedkin is expected to finalize the paperwork this weekend to complete the deal.
“At the request of CONSOB, The Friedkin Group Inc. (“TFG”) confirms that, as already indicated in the press release of 7th August last week, the agreed upon acquisition of 86.6% of AS Roma SpA (the “Company”) is equal to a total of 63,414,047 Euro corresponding to a unit price of 0.1165 Euro per share,” Friedkin Group said in a statement.
The letter prompted Roma share price to collapse more than 50% travelling from 0.5940 to 0.2770 in just two days.
