Tiffany shareholders support acquisition of US jewelers worth £ 11.7 billion by Louis Vuitton owner LVMH
Tiffany shareholders overwhelmingly backed a £ 11.7 billion acquisition by French LVMH.
More than 99 percent of the votes cast in a one-time meeting were in favor of the deal.
The vote ended more than a year of heated disputes and price disputes over the merger of two of the biggest names in the luxury world.
Gift wrapping: More than 99 percent of Tiffany’s shareholders supported a £ 11.7 billion acquisition by French LVMH
Louis Vuitton owner LVMH, run by billionaire Bernard Arnault, submitted an offer to the US jeweler late last year.
But when Covid hit and hit the industry, LVMH stepped out of business.
Tiffany, known for his famous robin’s egg-blue boxes, later took legal action, and the couple eventually agreed to deduct more than £ 310 million from the offer price.
Tiffany sales are improving in China, the company said, and the US was booming before Christmas.