Tiffany and LVMH modify merger price
LVMH Moët Hennessy Louis Vuitton, the world’s leading luxury products group, and Tiffany & Co., the global luxury jeweler, today announced that they have concluded an agreement modifying certain terms of their initial agreement to reflect a purchase price of $131.50 in cash and to reduce closing conditionality. Other key terms of the Merger Agreement remain unchanged. Tiffany and LVMH have also agreed to settle their pending litigation in the Delaware Chancery Court. The French luxury group would then pay $15.8 billion for Tiffany, down $430 million.