I am a breaking news reporter for Forbes in London, covering Europe and the U.S. Previously I was a news reporter for HuffPost UK, the Press Association and a night reporter at the Guardian. I studied Social Anthropology at the London School of Economics, where I was a writer and editor for one of the university’s global affairs magazines, the London Globalist. That led me to Goldsmiths, University of London, where I completed my M.A. in Journalism. Got a story? Get in touch at [email protected], or follow me on Twitter @bissieness. I look forward to hearing from you.
it will no longer complete its takeover of storied American jeweler Tiffany & Co. “as it stands”, citing in part a threat of tariffs on French goods coming into the U.S., while the jeweler is suing LVMH for a breach of its obligations.... [+]After much speculation about the deal, French luxury group LVMH agreed to buy Tiffany for a record $16.2 billion last November, adding to its growing portfolio of American brands.
But in a statement on Wednesday, LVMH’s board reversed its decision partly based on a letter from the French Foreign Affairs Minister asking the group to delay its acquisition until January 6, 2021, following a threat from the U.S. to impose tariffs on French goods. The group, owned by Europe’s richest person, Bernard Arnault, added that Tiffany requested to extend the merger agreement from November 24 to December 31, 2020.
As a result, the Board said it would stick with the original merger agreement and date, and concluded it would not go ahead with the deal as it stands.in Delaware, ordering LVMH to complete the transaction, and rejecting LVMH’s claims that it can sidestep acquisition by accusing Tiffany of breaching the terms of agreement.
Tiffany added that it decided to extend the date of the merger agreement to allow LVMH to secure antitrust approval, which it claims the luxury group has still not done in the necessary jurisdictions.13%. That’s how much Tiffany shares were down in pre-market trade on Wednesday, while LVMH shares were down 0.9%.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
LVMH Moet Hennessy says it won't be able to buy TiffanyLVMH Moet Hennessy undefined said it will not be able to complete the previously announced takeover of U.S. luxury goods retailer Tiffany undefined 'as it...
Weiterlesen »
David and Victoria Beckham's dreamy £31m London pad after leaving the CotswoldsVictoria, 46, and David, 45, splurged a whopping £31million on their London pad to make it look exactly how they want it
Weiterlesen »
Princess Beatrice spotted shopping in London after honeymoon with Edoardo Mapelli MozziPrincess Beatrice and Edoardo Mapelli Mozzi married in Windsor in July and had two honeymoon breaks in the south of France and Italy.
Weiterlesen »
Inside The Goring – The Queen's favourite London hotelQueen Elizabeth II loves London's Goring Hotel in Belgravia – discover why The Queen loves the Michelin-starred venue
Weiterlesen »
BFI London Film Festival To Screen ‘Soul’, ‘Nomadland’ At Hybrid 2020 EditionThis year’s BFI London Film Festival, taking place as a hybrid of online and physical activities due to ongoing pandemic disruption, has unveiled a program of 58 titles. A selection of screenings w…
Weiterlesen »
‘Supernova,’ ‘African Apocalypse,’ ‘Mogul Mowgli’ Among BFI London Film Festival SelectionsThe 64th edition of the British Film Institute London Film Festival (LFF) revealed its full program Tuesday, containing a robust line-up of 58 features from around the world, as well as a range of …
Weiterlesen »