While a trial date has been set for January 2021, Tiffany is confident that it will be able to bring LVMH to the table by lowering its offered share price to $131.50, down from the original share price of $135. Whether this will be enough of a sweetener to keep LVMH at the table remains to be seen.
If the deal were to close in 2020, this would mark another major acquisition during a year in which everyone is hurting economically. One industry where large mergers have been prevalent during the coronavirus pandemic is oil, with Chevron’s acquisition of Nobel Energy as well as Conoco Phillips’ buyout of Concho. Both deals commanded prices in the billion-dollar range.
People familiar with the deal at Tiffany have said that the company could go even lower in share price if it meant the deal would become certain.
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