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  • LVMH got a lot closer to tying the knot with Tiffany.

  • After a year long acrimonious dispute, the American Jewelers shareholders overwhelmingly approved a nearly $16 billion deal with the French conglomerate at a special meeting on Wednesday.

  • It's a luxury industry's biggest deal ever.

  • It all started late last year when LVMH offered to buy the iconic jeweler known for its pale blue boxes.

  • But the company led by billionaire Bernard Arnault, backed out of its, vowed to close the deal amid a trade rift between France and the US and as a pandemic slammed the luxury sector.

  • Tiffany then sued LVMH, seeking to force it toe honor the original agreement.

  • LVMH then re negotiated the deal price, lowering it by $425 million.

  • Regulators have cleared the deal and it's now expected to close early next year.

  • LVMH shares rose in early trading Wednesday.

LVMH got a lot closer to tying the knot with Tiffany.

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B2 tiffany deal luxury wednesday rift sued

Tiffany shareholders back LVMH takeover

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    林宜悉 posted on 2021/01/01
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