LVMH: to cancel breakfast at Tiffany's?

(CercleFinance.com) - LVMH's board of directors reportedly had a meeting in Paris to discuss the proposed Tiffany deal against the backdrop of a deteriorating US market, WWD ((Women's Wear Daily) said.


The meeting would have focused on the relevance of the takeover of the US jeweller in a context of deteriorating prospects for the US market following the covid-19 pandemic and riots.

LVMH's bid for Tiffany & Co. therefore suddenly seems much less certain, said WWD.

For the record, the deal that was announced on 25 November at a price of 135 dollars per Tiffany share payable in cash, values upmarket high jewellery house at around 14.7 billion euros, or 16.2 billion dollars.

The Tiffany stock fell by almost 9% yesterday on Wall Street, to about 117 dollars.


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