A PYMNTS Company

Mexico & Russia Clear Tiffany’s LVMH Deal

By  |  June 9, 2020

U.S. luxury jeweler Tiffany & Co said on Tuesday it had received antitrust clearances from Mexican and Russian authorities to go ahead with its $16.2-billion purchase by French giant LVMH.

The company said it amended certain of its debt agreements in order to have sufficient liquidity to handle the coronavirus hit and added that the changes were in compliance with its merger agreement with LVMH.

LVMH CEO Bernard Arnault has decided not to renegotiate the agreed price of $135 per share in cash, sources told Reuters on Friday, after the company’s board last week discussed the fallout from the coronavirus crisis on the acquisition.

Full Content: Reuters

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.