LVMH Announces Board Decision On Tiffany Deal - Quick Facts

(RTTNews) - LVMH Moët Hennessy Louis Vuitton (LVMHF.PK, LVMUY.PK) said it will not be able to complete the acquisition of Tiffany & Co. The Board of LVMH has decided to consider a letter from the French European and Foreign Affairs Minister directing the Group to differ the acquisition until after January 6th, 2021. The Board also considered Tiffany & Co.'s request to extend the outside date in the merger deal from November 24th to December 31st, 2020.

The Board noted that the merger agreement provides, in any event for a closing deadline no later than November 24th, 2020, and the Group LVMH will therefore not be able to complete the acquisition.