Ya gotta love the first sentence in the article with the bastardized Holly go lightly reference.
Mazal! LVMH to Buy Tiffany & Co. for $16.2 Billion
November 25, 2019 by Rob Bates
"LVMH will break bread with Tiffany, though the famed retailer will hardly go lightly.
In what some are describing as the biggest deal ever in the luxury goods segment, LVMH will pay $16.2 billion for Tiffany & Co., in a deal that ends the retailer’s 32 years as an independent public company.
The sale was approved by both company’s boards yesterday, said a statement from LVMH.
This is the priciest acquisition in LVMH’s history, more than doubling the $7 billion it paid for Christian Dior in 2017.
The final price comes out to $135 a share. That is a little shy of the $139 benchmark Tiffany’s board had reportedly sought, given its stock reached that level last year.
But it tops the luxury conglomerate’s original late-October bid of $120 a share and its reported follow-up bid of $130—not to mention the $98 Tiffany’s stock was trading at prior to all this becoming public.
The company’s shares closed at $125 on Friday, before it was revealed over the weekend the two sides had reached a deal. At press time, it was trading at ... "
https://www.jckonline.com/editorial-art ... 2-billion/
