Discount of $425m ends acrimonious battle over luxury sector’s biggest-ever deal
France’s LVMH will pay slightly less to buy the US jeweller Tiffany & Co after the two firms agreed to end a bitter dispute triggered by the Covid-19 pandemic and salvage the luxury sector’s biggest-ever deal.
The new takeover price was set at $131.5 (£101.6) a share, down from $135 in the original deal, the companies said on Thursday, bringing the total price tag to about $15.8bn.
LVMH, or Moët Hennessy Louis Vuitton, is the world’s biggest luxury goods group and is owned and run by Bernard Arnault, Europe’s richest man. Here are its main brands.
Related: Luxury player: why Bernard Arnault is making a blockbuster bid for Tiffany’s
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