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Money LVMH could renounce the takeover of Tiffany in the face of the fall of luxury in the United States

12:40  03 june  2020
12:40  03 june  2020 Source:   pressfrom.com

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The economic fallout from the pandemic has disrupted or derailed a number of prominent deals, including L Brands Inc.’s agreement to sell a majority stake in Victoria’s Secret to private-equity firm Sycamore Partners. If the LVMH - Tiffany tie-up falls apart, it would be one of the largest so far

The board of the luxury giant met in Paris specifically to discuss the proposed deal amid a deteriorating Tiffany Stock Plunges 9% After Report That LVMH Deal Could Fall Through. The biggest deal ever in the luxury market — the .2 billion acquisition of Tiffany & Co. by luxury

LVMH pourrait renoncer au rachat de Tiffany face à la chute du luxe aux Etats-Unis © Jérémy Barande / Ecole polytechnique Université Paris-Saclay / Wikimedia Commons LVMH could renounce the takeover of Tiffany in the face of the fall of luxury in the United States LVMH could abandon Tiffany due to the deterioration of the outlook for the sector in the United States.

While LVMH has so far had big plans for the American jewelry giant Tiffany, it could finally consider throwing in the towel, according to press sources. According to the American newspaper WDD (Women's wear daily), the board of directors of the world number one in luxury would have met to discuss the relevance of the repurchase of the mark in a context of deterioration of prospects of the American market. LVMH had concluded last November an agreement to buy Tiffany for 135 dollars per share, for an enterprise value of 14.7 billion dollars.

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Louis Vuitton owner LVMH agreed in November to buy Tiffany for .2 billion in its biggest acquisition yet. The 5 per-share cash deal would likely boost LVMH 's smallest business, the jewelry and watch division that is already home to Bulgari and Tag Heuer, help it expand in one of the

Louis Vuitton owner LVMH agreed in November to buy Tiffany for .2 billion in its biggest acquisition yet. The 5 per-share cash deal would likely boost LVMH 's smallest business, the jewelry and watch division that is already home to Bulgari and Tag Heuer, help it expand in one of the

On Wall Street, Tiffany fell yesterday by 8.84% to 117.01 dollars, penalized by this press information. In April, the US competition authorities gave the green light to LVMH's takeover of Tiffany. The American jeweler then estimated that the operation should be finalized in the coming months. In March, press rumors indicated that LVMH could try to negotiate the acquisition price of its target downward.

>> Read also - Was LVMH right to buy Tiffany for 15 billion?

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