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Tiffany & Co and LVMH look likely to make up after bitter legal battle

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The longstanding $16.6 billion (£12.8 billion) agreement for luxury goods giant LVMH Moët Hennessy Louis Vuitton (LVMH) to acquire jewellery company Tiffany & Co may be back on track after the pair have been at odds for months.

According to CNBC, the pair may be in talks to settle the acquisition at a reduced price.

It reported that the share price may be reduced from $135 (£104) per share to between $130 (£100) and $133 (£102.50).

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This comes after a year-long courtship between the companies turned sour this summer, as LVMH missed the initial purchase deadline and Tiffany accused it of wanting to back out of the deal.

After Tiffany took the matter to court, LVMH countersued, arguing that the jewellery company had been mismanaged during the pandemic and was no longer the same business it had agreed to acquire in late-2019.

CNBC reported that the pair hope to close a deal at earliest opportunity.

Read more below about the feud between the companies:

Tiffany comes out swinging as it brands LVMH claims “baseless and misleading”

Tags : LVMHTiffany & Co
Sam Lewis

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