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.

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REUTERS