Happi Staff11.25.19
Moët Hennessy Louis Vuitton (LVMH) has acquired Tiffany & Co. for $135 per share in cash, in a transaction with an equity value of approximately $16.2 billion.
LVMH stated that the acquisition will strengthen its position in jewelry and further increase its presence in the United States. However, Tiffany & Co.'s fragrance business still belongs to Coty at press time.
The transaction is expected to close in the middle of 2020 and is subject to customary closing conditions, including approval from Tiffany’s shareholders and the receipt of regulatory approvals.
LVMH stated that the acquisition will strengthen its position in jewelry and further increase its presence in the United States. However, Tiffany & Co.'s fragrance business still belongs to Coty at press time.
The transaction is expected to close in the middle of 2020 and is subject to customary closing conditions, including approval from Tiffany’s shareholders and the receipt of regulatory approvals.