SourcingJun 25, 2026
ICA Names Brandee Dallow as CEODallow will lead the International Colored Gemstone Association, effective July 6.
MajorsOct 28, 2020
Tiffany, LVMH Deal Receives EU Approval
The companies are reportedly in talks to lower the acquisition price, in line with what analysts had expected.
Tiffany & Co.’s “Soleste” round engagement ring in platinum with diamonds. Tiffany and LVMH are scheduled to head to court in January for a four-day trial regarding the jeweler’s pending acquisition. (Image courtesy of Tiffany & Co.)
New York—The Tiffany & Co. and LVMH deal has cleared the final regulatory hurdle, with the European Commission granting the acquisition antitrust approval.
While the fate of the multi-billion-dollar deal is still uncertain due to the ongoing legal disputes surrounding it, reports surfaced this week that a compromise may be on the horizon.
LVMH announced its intention to back out of the $16.2 billion deal last month, citing closing date issues and a request from the French government.
In response, Tiffany & Co. filed a lawsuit in Delaware to force LVMH to move forward with the deal, claiming the luxury conglomerate was just looking for excuses to get out of the deal.
LVMH filed a countersuit, claiming that Tiffany had not lived up to the acquisition’s closing conditions, citing poor management and its handling of the COVID-19 crisis.
The companies are scheduled to head to court on Jan. 5, 2021 to resolve the dispute, though reports surfaced Tuesday that the deal may still go through, albeit at a lower price, as analysts predicted.
A CNBC report said the terms of the deal may be revised, allowing LVMH to acquire Tiffany for $130 to $133 per share, compared with the currently agreed-upon price of $135 per share.
Tiffany and LVMH did not respond to National Jeweler’s request for comment on the report.
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