Tiffany agrees to revised terms on LVMH takeover deal

The largest deal in luxury is back on after New York's famed jeweller Tiffany agreed to a slightly lower offer from LVMH in Paris. Rumors that both were still interested in making the deal happen began to surface in recent days. The buyout has been approved by the boards of both companies, and it's expected to close early next year..

PTI | Newyork | Updated: 29-10-2020 16:59 IST | Created: 29-10-2020 16:56 IST

Tiffany agrees to revised terms on LVMH takeover deal — Representative image Image Credit: Facebook (@Tiffany & Co)

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The largest deal in luxury is back on after New York's famed jeweler Tiffany agreed to a slightly lower offer from LVMH in Paris. LVMH will now pay USD 131.50 per share for Tiffany's stock, down from USD 135 per share, putting the price tag at USD 15.8 billion, down from USD 16.2 billion, the companies said Thursday.

LVMH appeared to walk away from the acquisition last month after it said the French government had pushed for a delay to assess the threat of proposed US tariffs. Rumors that both were still interested in making the deal happen began to surface in recent days.

The buyout has been approved by the boards of both companies, and it's expected to close early next year.

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