LVMH Delays Acquisition Deadline With Tiffany & Co.

Pushed back for another three months.

By
Fashion 
4,309 Hypes 3 Comments

French luxury retail group LVMH has now delayed the deadline for its planned acquisition of American jewelry chain Tiffany & Co.

According to a new report from Business of Fashion, sources close to the deal revealed that the two companies have agreed to postpone the deadline for the $16.2 billion USD deal for another three months after failing to close on August 24. A filing to the U.S. Securities and Exchange Commission earlier this year by Tiffany indicates that a proviso within the deal allows for one of the parties to push the acquisition date as far back as November 24, an option which has now been exercised. The deal would be the biggest acquisition in LVMH’s history, but sources also suggested to Reuters that in light of the ongoing coronavirus pandemic, the French group contemplated whether to renegotiate or not, but ultimately decided against it. Both companies are currently still awaiting the European Union to approve the acquisition.

As of now, a spokesperson from LVMH has declined to comment, while Tiffany has yet to respond.

Elsewhere in business-related news, SpaceX has just raised $1.9 billion USD in funding.

Read Full Article

What to Read Next

'Powerpuff Girls' Is Getting a Live-Action Adaptation on CW
Entertainment

'Powerpuff Girls' Is Getting a Live-Action Adaptation on CW

Led by Arrowverse co-creator Greg Berlanti.

Converse Covers Chuck 70 With Leather Flame Appliqué and Topstitching
Footwear

Converse Covers Chuck 70 With Leather Flame Appliqué and Topstitching

Some heat for your feet.

Watch 'Rich Rebuilds' Test Out His Homemade Tesla Cyberquad ATV
Automotive

Watch 'Rich Rebuilds' Test Out His Homemade Tesla Cyberquad ATV

With a 0-60 time in under four seconds.


Sneakersnstuff Celebrates Sweet Treats with adidas Campus 80 "Homemade Pack"
Footwear

Sneakersnstuff Celebrates Sweet Treats with adidas Campus 80 "Homemade Pack"

Featuring three classic recipes.

RZA Sells Half of Music Catalog to Hipgnosis Sounds
Music

RZA Sells Half of Music Catalog to Hipgnosis Sounds

The 814-title catalog includes both his solo work and the Wu-Tang projects.

adidas' FYW XTA "Sand/Sub Green" Is Perfect for Hitting the Hike
Footwear

adidas' FYW XTA "Sand/Sub Green" Is Perfect for Hitting the Hike

EQT tech packaged in a retro design.

More ▾
 
Subscribe to our Newsletter

Gain access to exclusive interviews with industry creatives, think pieces, trend forecasts, guides and more.

By subscribing, you agree to our Terms of Use and Privacy Policy.

Help us serve you better

We appreciate your support in allowing HYPEBEAST ads, where we can share contents from the latest fashion, to those culturally relevant. In adding HYPEBEAST to your ad blocker's whitelist, ads on our sites will show while you continue to browse.