that its blockbuster $16.2 billion takeover by luxury goods giant LVMH, which would have been the biggest luxury brand deal ever, is now looking less likely to go through.Budrul Chukrut/SOPA Images/LightRocket via Getty ImagesLVMH’s board called a meeting in Paris specifically to discuss the takeover, with management expressing concerns about a deteriorating situation in the U.S. market, fashion trade publication WWDThe luxury goods giant is apparently reconsidering its $16.
No firm decision was made at Tuesday’s meeting, but board members made clear that the acquisition should be reconsidered, sourcesTiffany shares plunged on the news, down by 11% at one point, with trading briefly halted at 3:22 p.m. EST, before ending the day down 9%. At the luxury jeweler’s annual shareholder meeting on Monday, Tiffany notably didn’t specifically mention any challenges related to the coronavirus, the widespread protests across the country or the LVMH takeover.
I bet
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