The two companies said in a joint statement on Thursday that they had amended the terms of their initial merger agreement, and that by reducing the price per share, LVMH would pay થી 135 to $ 131.50. The move now puts the company valued at 15 15.8 billion, 400 400 million less than the સં 16.2 billion originally agreed. It also ends a legal battle over the deal.
“We signed an agreement with LVMH at an attractive price and are now very pleased to be able to proceed with the merger,” Tiffany Chairman Roger Farah said in a statement. “The Board concludes that it is in the interest of all our appointees to achieve certainty of closure.”
Bernard Arnault, CEO of LVMH, said the new agreement was “balanced” and “allows LVMH to work on Tiffany’s acquisition with confidence.”
– This is a developing story and will be updated.
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