LVMH-Tiffany $16.2 Billion Luxury Deal Looks Uncertain -WWD
June 03 2020 - 6:51AM
Dow Jones News
--LVMH Moet Hennessy Louis Vuitton SE's $16.2 billion offer for
Tiffany & Co. looks uncertain as the U.S. market environment
has been deteriorating, fashion industry trade journal WWD reported
late Tuesday, citing unnamed sources.
--Members of LVMH's board called a meeting Tuesday night to
discuss the deal over concerns regarding the coronavirus pandemic
in the U.S., as well as the continuing unrest triggered by the
death of George Floyd, WWD reported. LVMH's board members are also
concerned about Tiffany's capacity to cover its debt covenants at
the end of the transaction, WWD said.
--No definitive decision was made during the meeting but the
board members seem to be in favor of a reconsideration of the
acquisition, WWD reported.
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(END) Dow Jones Newswires
June 03, 2020 06:36 ET (10:36 GMT)
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