of the U.S. jeweler. Tiffany had asked the court to set a trial date for mid-November, in the hope of getting a ruling before the deal’s Nov. 24 closing date. LVMH had argued that it wouldn’t be possible to go to trial until March or April.
In his decision, Joseph Slights III, vice chancellor of the Court of Chancery of the State of Delaware, took into consideration that certain antitrust approvals that the companies had obtained for the deal will begin to expire next year. The U.S. approval lapses in February. Tiffany also argued that delaying a resolution until the spring would leave it in limbo and hamstring its ability to run its business and pay employees.
Tiffany’s capital expenditures are capped until the deal’s closing date and the agreement doesn’t stipulate a budget for next year. Its shares outstanding are also capped, meaning a delay would prevent it from paying equity compensation to employees at year-end.
Source: News Formal (newsformal.com)
Much of TiffanyAndCo merchandise is over rated. One can get many of the same goods for a fraction of the price if you know how to deal in Gemstones. I have one Tiffany piece that catymogo gave me because her grandma said all women should be gifted Tiffany. It sentimental.
'When the checks stop coming'....
Wait so who should we feel bad for? Tiffanys uh no or LVMH noooo!!!
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