Tiffany stock plunges 9% after report that LVMH deal could fall through

Tiffany stock plunges 9% after report that LVMH deal could fall through

French luxury goods group LVMH’s $16.2 billion takeover of Tiffany & Co is looking less certain due to the situation brought on by a global pandemic and the social unrest in the US, reported Reuters. The news brought the share of the company down nearly 9%. LVMH’s board is also reportedly concerned about Tiffany’s ability to repay all of its debt obligations after a takeover gets completed.

Timothy
Timothy
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