Tiffany and LVMH Agree on Buyout Price; Lawsuit to Be Dropped

Eric Volkman, The Motley Fool
·2 min read
Tiffany and LVMH Agree on Buyout Price; Lawsuit to Be Dropped
Tiffany and LVMH Agree on Buyout Price; Lawsuit to Be Dropped

The soap opera-like courtship of luxury goods retailer Tiffany & Co. (NYSE: TIF) by LVMH Moet Hennessy (OTC: LVMHF) seems to be drawing to a close. On Thursday morning, both companies announced that Tiffany had agreed to be acquired by LVMH for $131.50 per share in cash. LVMH, itself the product of a series of deals in the luxury goods segment, saw in Tiffany a highly complementary asset available at an attractive price.