LVMH Looking to Renegotiate $16 Billion Tiffany Deal
Maybe LVMH Moet Hennessy Louis Vuitton (OTC: LVMUY) is trying to get a better price for Tiffany (NYSE: TIF) after all.
Earlier this year, the luxury goods conglomerate shot down the suggestion it was trying to do an end run around the $135 per share, or $16.2 billion, price tag it negotiated last year by buying the high-end jeweler's stock on the open market. It maintained, "LVMH is currently committed not to buy Tiffany shares."
Acquiring the stock that way would have significantly lowered the cost of the deal as Tiffany's stock plunged about 20% or so to around $105 a share when the COVID-19 outbreak was declared a pandemic.
Source Fool.com
