It's Official: LVMH Will Still Buy Out Tiffany & Co
It's Official: LVMH Will Still Buy Out Tiffany & Co
Video: It's Official: LVMH Will Still Buy Out Tiffany & Co
Video: LVMH покупает Tiffany за $16 миллиардов 2023, February
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Towards the end of the year, the finale also came in the Tiffany & Co saga against LVMH. The luxury conglomerate will nevertheless buy out the American Jewelry House - the deal on the new terms was approved by its shareholders with almost 99 percent of the vote (88 million voted in favor and only 107 thousand - against). Under the new terms, the price of one Tiffany share is $ 131.5 instead of $ 135 initially. In total, this saves LVMH about $ 420 million. After the completion of all stages of the transaction, the Jewelry House will cease to be a public company - and will become the full property of the French conglomerate. The total transaction amount will be $ 15.8 billion.

Recall that the initial agreement between the two companies was reached last year - and the transaction price was $ 16.2 billion. But after the outbreak of the pandemic, LVMH tried to break the deal, citing the coronavirus crisis as a force majeure circumstance. All this entailed a lengthy trial, which ended in the negotiation of new, more favorable conditions for the luxury conglomerate, which were arranged by both parties.

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