Wall Street thinks Tiffany & Co will be fine without LVMH but the Deal is Back On
LVMH pulled out of a Tiffany takeover and embarked on a counter-suit and while it looked like Wall Street thought that the U.S. jeweller will do just fine by itself, LUXUO argued that the deal was a win-win. Reuters just reported that the deal could be back on
The post Wall Street thinks Tiffany & Co will be fine without LVMH but the Deal is Back On appeared first on LUXUO.
UPDATE: The Board of Tiffany & Co has just approved the lower price for LVMH’s acquisition of the American jeweller, the outcome of the deal will now depend on the shareholder vote. Even discounted, the $15.8bn deal is still the luxury industry’s biggest-ever acquisition; Financial Times spoke to board members who threw a significant amount of shade at LVMH, chiefly asking – why all the drama over such a small price reduction" Breaking: 8 hours ago, Reuters reported that both LVMH and Tiffany agreed to lower the price of the $16 billion takeover from US$135 per share to $131.5 per share. While representatives for both corporations had declined to comment, insiders speaking to Reuters said that the deal is back on track and an announcement could come as soon as Thursday.
The lower price for LVMH’s acquisition of Tiffany & Co amounts to a 3% discount, saving LVMH US$425 million. Tiffany’s board will convene later today and an agreement will move final approval via a vote by Tiffany shareholders. This would mean that the LVMH acquisition of Tiffany & Co co...
The post Wall Street thinks Tiffany & Co will be fine without LVMH but the Deal is Back On appeared first on LUXUO.
UPDATE: The Board of Tiffany & Co has just approved the lower price for LVMH’s acquisition of the American jeweller, the outcome of the deal will now depend on the shareholder vote. Even discounted, the $15.8bn deal is still the luxury industry’s biggest-ever acquisition; Financial Times spoke to board members who threw a significant amount of shade at LVMH, chiefly asking – why all the drama over such a small price reduction" Breaking: 8 hours ago, Reuters reported that both LVMH and Tiffany agreed to lower the price of the $16 billion takeover from US$135 per share to $131.5 per share. While representatives for both corporations had declined to comment, insiders speaking to Reuters said that the deal is back on track and an announcement could come as soon as Thursday.
The lower price for LVMH’s acquisition of Tiffany & Co amounts to a 3% discount, saving LVMH US$425 million. Tiffany’s board will convene later today and an agreement will move final approval via a vote by Tiffany shareholders. This would mean that the LVMH acquisition of Tiffany & Co co...
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