Tiffany, LVMH in indirect talks to settle dispute over US$16b deal
[PARIS] US jeweller Tiffany and French luxury goods giant LVMH are in indirect talks to settle their dispute over a US$16 billion takeover deal, CNBC reported on Tuesday, citing people familiar with the matter.
The two parties could be looking to slightly lower the price of the deal or potentially move to a tender offer, the report said.
Both LVMH and Tiffany did not immediately respond to Reuters requests for comment.
Shares of Tiffany rose about 2 per cent on Tuesday after the company on Monday said it had received a nod from the European Commission for the deal completion, thus clearing all regulatory hurdles.
Tiffany last month sued the Louis Vuitton owner in a Delaware court, alleging that the French company had deliberately been stalling the deal and that it has improperly tried to renegotiate the deal.
LVMH had countersued, alleging that the US company has been mismanaged during the Covid-19 pandemic.
A NEWSLETTER FOR YOU
Lifestyle
Our picks of the latest dining, travel and leisure options to treat yourself.
REUTERS
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Consumer & Healthcare
Holiday Inn owner IHG’s Q1 revenue up 2.6%, leisure travel demand remains strong
WSJ moves Asia headquarters from Hong Kong to Singapore
South Korea to slap fines on food suppliers for ‘shrinkflation’
Olam outbids Dreyfus’ sweetened deal for Australia’s Namoi, raises offer to A$0.66 per share
Live Nation’s revenue beats estimates as boom in concerts drive ticket sales
Jim Beam owner bets on canned vodka cocktails to double revenue