LVMH 's board met this week to discuss the fallout from the coronavirus crisis on its $16.2 billion purchase of U.S. jeweller Tiffany , the luxury goods group said on Thursday, opening the door to a possible attempt to review the deal terms.
), the luxury goods group said on Thursday, opening the door to a possible attempt to review the deal terms.
LVMH, run by France’s richest man, Bernard Arnault, agreed to buy Tiffany in November, before the retail business was hammered by the pandemic. The French conglomerate, behind brands such as Louis Vuitton, said that its board had this week discussed the potential impact of the pandemic “on the results and perspectives of Tiffany & Co with respect to the agreement that links the two groups.”
Tiffany will release quarterly earnings on June 9, which had originally been scheduled for this Friday. Tiffany shares closed at $114 on Wednesday.
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