Tiffany, LVMH push back takeover deal after missing deadline
Tiffany & Co (NYSE:TIF) and LVMH have reportedly pushed back the takeover deal by three months after missing the August 24 deadline initially set out in the documents.
The US$16.2bn deal could be completed as late as November, according to Reuters.
LVMH, the owner of upscale brands such as Louis Vuitton, Fendi, Christian Dior and Givenchy, agreed last year to acquire the New York-based jeweller in hopes to restore the brand.
The luxury giant mulled over a renegotiation amid the coronavirus crisis but then decided to not go ahead.
The takeover is still due to be approved by the relevant authorities, such as the European Union.
Story by ProactiveInvestors
Source: https://www.proactiveinvestors.com/companies/news/927436/tiffany-lvmh-push-back-takeover-deal-after-missing-deadline-927436.html
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