LVMH and Tiffany end luxury battle, cut price on $16 billion takeover

after the two companies agreed to end a bitter dispute triggered by the COVID-19 pandemic and salvage the luxury sector's biggest-ever deal.

“We are as convinced as ever of the formidable potential of the Tiffany brand and believe that LVMH is the right home for Tiffany and its employees during this exciting next chapter,” Arnault said in the statement.The transaction, which has received regulatory clearance, is expected to close in early 2021, subject to Tiffany shareholder approval. Under the revised deal, Tiffany will pay its regular quarterly dividend of $0.58 per share on Nov. 19.

The initial deal ran into trouble last month when Louis Vuitton owner LVMH said it could no longer complete the transaction by a Nov. 24 deadline. However, a source close to the matter told Reuters on Wednesday that Tiffany had recently approached LVMH with a more conciliatory tone.

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LVMH and Tiffany end luxury battle, cut price on $16 billion takeoverFrance's LVMH will pay slightly less to acquire U.S. jeweler Tiffany & Co after the two companies agreed to end a bitter dispute triggered by the COVID-19 pandemic and salvage the luxury sector's biggest-ever deal. good
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LVMH and Tiffany end luxury battle, cut price on $16 billion takeoverFrance's LVMH will pay slightly less to acquire U.S. jeweler Tiffany & Co after the two companies agreed to end a bitter dispute triggered by the COVID-19 pandemic and salvage the luxury sector's biggest-ever deal. People are driving luxury cars through food banks, but sure, let's care what happens to LV or Tiffany... 🤔 Because 99.99999999% of the world care about these brands! FFS! Goodbye America.
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Tiffany Agrees to New Deal Terms With LVMHTiffany agreed to accept a lower price in its takeover by LVMH, ending a dispute between the luxury-goods companies that erupted after the coronavirus pandemic upended the industry. 95% only bad news( This is how the rich are getting richer.
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