LVMH has reopened the possibility of acquiring Tiffany. Both companies have returned to negotiations after the former claimed in early September that it could not afford the luxury jewelry. The change of mind comes after he threatened to take her to court.
Avoiding court is the primary goal of both firms. So much so that they are willing to modify the initial proposals. As reported by Finalcial Times, Tiffany is willing to consider a new price whenever is above $ 130 per share, a proposal that does not seem to have displeased the French.
The initial agreement, closed in mid-November, established the purchase of Tiffany for $ 16.3 billion. In addition, both parties closed by raising the offer price to $ 135 per share. The 130 that are now on the table are a return to the initial negotiations.
If the price is finally lowered, every dollar less will reduce by about 120 million dollars (101 million euros) the amount of the operation
The return to negotiations has been well received on the trading floor, so much so that Tiffany shares have advanced 4.93%. The rises are such that it has recovered $ 128, a level not seen since mid-April.
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