LVMH: agreement for acquisition of Tiffany confirmed
(CercleFinance.com) - LVMH and Tiffany confirm that they have reached a definitive agreement for the acquisition of Tiffany by LVMH at a price of 135 dollars per share in cash, a deal that values the US jeweler at approximately 14.
7 billion euros, or 16.2 billion dollars.
The French luxury giant explains that this acquisition reinforces its position in fine jewelry, while further increasing its presence in the United States, while giving a new dimension to its watches and jewelry business.
The deal has been approved by both groups' boards of directors. It is expected to close in mid-2020, subject to customary conditions, including approval by Tiffany's shareholders and regulatory authorisations.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
7 billion euros, or 16.2 billion dollars.
The French luxury giant explains that this acquisition reinforces its position in fine jewelry, while further increasing its presence in the United States, while giving a new dimension to its watches and jewelry business.
The deal has been approved by both groups' boards of directors. It is expected to close in mid-2020, subject to customary conditions, including approval by Tiffany's shareholders and regulatory authorisations.
Copyright (c) 2019 CercleFinance.com. All rights reserved.