Tiffany's Sink 11% After Louis-Vuitton Calls Off Takeover Unlisted Video
3 years ago
4
News
Louis Vuitton
LVMH
Tiffany
Luxury Brands
8 Th Arrondissement Of Paris
CAC 40
Societates Europaeae
Tiffany(NJ)Inc.V. Ebay Inc
Jeweler
On Wednesday, Tiffany slid as much as 11%.
The drop came after luxury conglomerate LVMH canceled plans to buy the jeweler for $16.2 billion.
On Wednesday, the Louis Vuitton parent said the deal's contract set a November 24 deadline
The French government and Tiffany's request to delay the deal led to LVMH pulling out.
Tiffany responded soon after, saying in a press release it filed a lawsuit to keep the acquisition on track.
Tiffany also alleged LVMH sought to leverage US social justice protests and the coronavirus pandemic to "avoid paying the agreed price for Tiffany shares."
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