LVMH says it can't complete its planned acquisition of Tiffany, which would have been the biggest luxury goods deal in history
Hong Kong LVMH says it can't complete its planned acquisition of Tiffany, which would have been the biggest luxury goods deal in history.
The French conglomerate announced Wednesday that as things stand, it would not"be able to complete" the $16.2 billion deal — which was announced last November — because of"a succession of events which undermine the acquisition." Those events included a recent letter from the French government calling on the company to defer its takeover of Tiffany until January 2021 in response to the US threat of taxes on French products, LVMH said in a statement.
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LVMH Calls Off Bid To Buy Tiffany & Co., Jeweler Sues Luxury ConglomerateI am a breaking news reporter for Forbes in London, covering Europe and the U.S. Previously I was a news reporter for HuffPost UK, the Press Association and a night reporter at the Guardian. I studied Social Anthropology at the London School of Economics, where I was a writer and editor for one of the university’s global affairs magazines, the London Globalist. That led me to Goldsmiths, University of London, where I completed my M.A. in Journalism. Got a story? Get in touch at isabel.togohforbes.com, or follow me on Twitter bissieness. I look forward to hearing from you.
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LVMH Calls Off Bid To Buy Tiffany & Co., Jeweler Sues Luxury ConglomerateI am a breaking news reporter for Forbes in London, covering Europe and the U.S. Previously I was a news reporter for HuffPost UK, the Press Association and a night reporter at the Guardian. I studied Social Anthropology at the London School of Economics, where I was a writer and editor for one of the university’s global affairs magazines, the London Globalist. That led me to Goldsmiths, University of London, where I completed my M.A. in Journalism. Got a story? Get in touch at isabel.togohforbes.com, or follow me on Twitter bissieness. I look forward to hearing from you.
Read more »