Author:Whitney BauckUpdated:Oct 29, 2020Original:Nov 25, 2019French luxury conglomerate LVMH announced Monday that it's adding another gem to its crown: American jeweler Tiffany & Co.
It's also worth noting that the conglomerate describes its new acquisition as "an early proponent of sourcing... materials with a socially and environmentally responsible rigor." Considering that LVMH has been in a bit of an arms race with its rival Kering to be seen as the most sustainability-minded player in luxury, Tiffany's reputation in this arena certainly didn't hurt prospects, either.
Though already approved by the boards of directors of both companies, the transaction will likely not be finalized until the middle of 2020, according to LVMH. UPDATE, October 29, 2020: The saga of LVMH and Tiffany & Co. has been full of twists and turns , but it seems that it's headed towards a partnership, yet again.
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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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Tiffany and LVMH Conclude New DealThe parties agreed on new purchase price of $131.50 in cash per share and to settle their pending litigation. erikmaza TiffanyAndCo LVMH 💍 Put a ring on it!
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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.
Source: WSJ - 🏆 98. / 63 Read more »
WSJ News Exclusive | Tiffany, LVMH Near Agreement on New Deal TermsThe luxury-goods companies have come to a preliminary agreement on new deal terms that would call for LVMH to pay $131.50 for the iconic U.S. jewelry maker, down from a prior agreement of $135 a share. Interesting You spelled LVMH wrong lol No fair. tiffany never puts anything on sale.
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Price Cut Could Settle Tiffany vs. LVMHThe jeweler’s stock rebounded on reports that it would consider less than the $135-a-share price set last year.
Source: wwd - 🏆 24. / 68 Read more »
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.
Source: Reuters - 🏆 2. / 97 Read more »