Tiffany & Co. Stockholders approve Acquisition by LVMH
04 Febbraio 2020 - 5:58PM
Tiffany & Co. Stockholders approve Acquisition by LVMH
Paris,
February 4, 2020
LVMH Moët Hennessy Louis Vuitton SE (“LVMH”),
the world’s leading luxury products group, announced that
stockholders of Tiffany & Co. (NYSE: TIF) (“Tiffany”) have
voted overwhelmingly to approve the previously announced merger
agreement relating to the proposed acquisition of Tiffany by LVMH
at a special meeting of Tiffany stockholders that was held
today.
According to the agreement announced on November
25, 2019, LVMH will acquire Tiffany, the global luxury jeweler, for
$135 per share in cash, in a transaction with an equity value of
approximately €14.7 billion or $16.2 billion.
Bernard Arnault, Chairman and Chief Executive
Officer of LVMH, commented: “This approval is a significant
milestone as we move closer to completing our acquisition of
Tiffany, an iconic company with a rich heritage and unique
positioning in the global luxury jewelry market. A globally
recognized symbol of love, Tiffany will be an outstanding addition
to our unique portfolio of luxury brands. We look forward to
welcoming Tiffany into the LVMH family and helping the brand reach
new heights as an LVMH Maison.”
The transaction is still expected to close in
the middle of 2020, subject to the receipt of regulatory approvals
and satisfaction or waiver of other customary closing
conditions.
LVMHLVMH Moët Hennessy Louis Vuitton is
represented in Wines and Spirits by a portfolio of brands that
includes Moët & Chandon, Dom Pérignon, Veuve Clicquot
Ponsardin, Krug, Ruinart, Mercier, Château d’Yquem, Domaine du Clos
des Lambrays, Château Cheval Blanc, Colgin Cellars, Hennessy,
Glenmorangie, Ardbeg, Belvedere, Woodinville, Volcán de Mi Tierra,
Chandon, Cloudy Bay, Terrazas de los Andes, Cheval des Andes, Cape
Mentelle, Newton, Bodega Numanthia and Ao Yun. Its Fashion and
Leather Goods division includes Louis Vuitton, Christian Dior
Couture, Celine, Loewe, Kenzo, Givenchy, Pink Shirtmaker, Fendi,
Emilio Pucci, Marc Jacobs, Berluti, Nicholas Kirkwood, Loro Piana,
RIMOWA, Patou and Fenty. LVMH is present in the Perfumes and
Cosmetics sector with Parfums Christian Dior, Guerlain, Parfums
Givenchy, Kenzo Parfums, Perfumes Loewe, Benefit Cosmetics, Make Up
For Ever, Acqua di Parma, Fresh, Fenty Beauty by Rihanna and Maison
Francis Kurkdjian. LVMH's Watches and Jewelry division comprises
Bvlgari, TAG Heuer, Chaumet, Dior Watches, Zenith, Fred and Hublot.
LVMH is also active in selective retailing as well as in other
activities through DFS, Sephora, Le Bon Marché, La Samaritaine,
Groupe Les Echos, Cova, Le Jardin d’Acclimatation, Royal Van Lent,
Belmond and Cheval Blanc hotels.
LVMH CONTACTS
Analysts and investorsChris HollisLVMH+ 33 1 44 13
21 22 |
Media Jean-Charles Tréhan LVMH + 33 1 44 13 26 20
Nik Deogun / Jonathan Doorley Brunswick Group +1 212 333
3810 Aurélia de Lapeyrouse Brunswick Group +33 1 53 96 83 83
|
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