Sotheby's Ownership Changes

The Taubman family, which has owned controlling interest in Sotheby's auction house, is reducing its investment to minority shareholder status. The deal, which ends years of speculation about the Taubmans intentions for their holding, ends a dual share structure that had allowed the family's 22% stake to carry 62% of the votes. The family will continue to hold 7.1 million shares, which will give them the same power as other investors in the company. For the full story - click the title Irish Art