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TIF

Tiffany

$129.85 /

+0.96 (+0.74%)

, LVMUY

LVMH

$0.00 /

+ (+0.00%)

05:25
10/29/20
10/29
05:25
10/29/20
05:25

LVMH, Tiffany agree to reduced takeover price of $131.50 per share

LVMH Moet Hennessy Louis Vuitton SE (LVMUY) and Tiffany & Co. (TIF) 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. The original takeover price was $135 per share. Other key terms of the merger agreement remain unchanged, the companies said in a statement. Tiffany and LVMH have also agreed to settle their pending litigation in the Delaware Chancery Court. The boards of LVMH and Tiffany have approved the terms of the transaction and all required regulatory approvals have been obtained. The modified merger agreement provides that the regularly scheduled Tiffany quarterly dividend of 58c per share due to be declared on November 19 will be declared and paid. The merger is expected to close in early 2021, subject to Tiffany shareholder approval and customary closing conditions.

TIF

Tiffany

$129.85 /

+0.96 (+0.74%)

LVMUY

LVMH

$0.00 /

+ (+0.00%)

TIF Tiffany
$129.85 /

+0.96 (+0.74%)

10/28/20
LVMH, Tiffany near agreement on $131.50 per share price, WSJ reports
10/16/20 William Blair
Tiffany results strengthen legal standing against LVMH, says William Blair
09/10/20 Wells Fargo
Tiffany price target lowered to $120 from $135 at Wells Fargo
08/25/20 Oppenheimer
Opco 'turning more concerned' LVMH could reduce Tiffany buyout price
LVMUY LVMH
$0.00 /

+ (+0.00%)

10/16/20 Morgan Stanley
LVMH price target raised to EUR 500 from EUR 465 at Morgan Stanley
10/16/20 UBS
LVMH price target raised to EUR 477 from EUR 462 at UBS
10/16/20 Credit Suisse
LVMH price target raised to EUR 475 from EUR 450 at Credit Suisse

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