When The Stock Market Crashed, LVMH Tried To Dive Tiffany.
Last year, the French luxury goods manufacturer LVMH, who agreed to buy Tiffany's French luxury goods maker for $16 billion 200 million, is considering buying Tiffany's stock in the open market on the occasion of a global stock market crash.
Tiffany will announce its results this Friday. It has been reported that LVMH has discussed with Tiffany's board of directors, which may further enable LVMH to decide whether to buy Tiffany shares after Tiffany announces its quarterly results.
LVMH group has not yet made a decision on this transaction and is discussing the potential legal obstacles to this plan.
Last month, LVMH planned to raise 9 billion 300 million euros from the bond market to help finance its financing, which is expected to be completed in the middle of 2020. The latest move has also confirmed LVMH's interest in Tiffany. Neither LVMH nor Tiffany immediately commented on this.
In addition, Tiffany recently closed several stores, including its flagship store in Fifth Avenue, New York, and shortened the business hours of other stores to deal with public health incidents.
As of Thursday's close, Tiffany shares rose 13.88% to close at $126.
Source: Zhitong financial network
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