Tiffany & Co, the U.S. based jeweller, and LVMH, the France based giant in luxury goods, are conducting talks for settling their “$16 billion takeover” dispute on acquiring the same in “slightly lower” price than it was initially agreed upon, revealed sources with the knowledge on this matter.
The previous price stood at “$135” for each share of Tiffany while currently the negotiations are being carried out in the range of “$131-$134”. Last month, Tiffany took the owner of Louis Vuitton to courting suing him over alleged stalling of the deal in an improper trail of deal renegotiation.
In return, LVMH had filed a counter case alleging Tiffany of mismanaging during the pandemic time. As per CNBC’s earlier report, both the parties were carrying out indirect talks to “settle the dispute”. However, Tiffany as well as LVMH did not give any response to Reuters request for commenting on the same.
While Reuters further informed:
“Tiffany shares rose more than 3% on Tuesday to $126.87 after the company said on Monday that it had received the nod from the European Commission for the deal completion, thus clearing all regulatory hurdles”.
References:
reuters.com
The previous price stood at “$135” for each share of Tiffany while currently the negotiations are being carried out in the range of “$131-$134”. Last month, Tiffany took the owner of Louis Vuitton to courting suing him over alleged stalling of the deal in an improper trail of deal renegotiation.
In return, LVMH had filed a counter case alleging Tiffany of mismanaging during the pandemic time. As per CNBC’s earlier report, both the parties were carrying out indirect talks to “settle the dispute”. However, Tiffany as well as LVMH did not give any response to Reuters request for commenting on the same.
While Reuters further informed:
“Tiffany shares rose more than 3% on Tuesday to $126.87 after the company said on Monday that it had received the nod from the European Commission for the deal completion, thus clearing all regulatory hurdles”.
References:
reuters.com
