LVMH, Tiffany agree to cut price of $16 bn deal, end legal dispute: Report

Topics LVMH | Tiffany's | fashion industry

U.S. jeweler Tiffany & Co has agreed with LVMH to slightly lower the price of its acquisition by the French luxury goods group, in a move that could end a legal dispute between the two, two sources familiar with the matter said on Wednesday.

The sources told Reuters the two sides had agreed to lower the price of the $16 billion takeover to $131.5 per share from $135 per share, and that an announcement that the deal is therefore back on track could come on Thursday. The new terms would mean a discount of $425 million for LVMH, led.

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