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LVMH, Tiffany near agreement to reaffirm merger, say sources | Malay Mail

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NEW YORK, Oct 29 ― Tiffany has agreed to accept a lower price from LVMH in order to seal a merger that had been close to collapsing, two sources involved in the talks told AFP yesterday. French luxury giant LVMH will pay US$131 (RM544.50) or US$131.50 a share for the high-end jeweller instead of...

According to sources, Tiffany has agreed to accept a lower price from LVMH in order to seal a merger that had been close to collapsing. — Reuters pic

French luxury giant LVMH will pay US$131 or US$131.50 a share for the high-end jeweller instead of the US$135 in the original takeover proposal, according to a preliminary agreement, said one of the sources.At US$131.50, the price of the merger deal would fall to US$15.96 billion, a drop of about US$425 million based on Tiffany's share count in US securities documents.

The parent to luxury brands such as Louis Vuitton, Dior and Moet & Chandon, LVMH announced its plan to acquire Tiffany and it's iconic robin's egg blue gift boxes at the end of 2019.

 

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If this is true, it'll be Behemoth in the making for luxury products!

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