Louis Vuitton reconsidering taking over Tiffany & Co. for USD 16.2 Billion according to new reports

Back in November, news broke that Louis Vuitton owner LVMH had planned to shell out a whopping amount for the jewellery brand.
Louis Vuitton reconsidering taking over Tiffany & Co. for USD 16.2 Billion according to new reports
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There is never a dull day in the fashion world. Back in November 2019, the news that Louis Vuitton owner LVMH was interested in purchasing the shares of Tiffany & Co. for a whopping 16.2 billion USD! This news took the fashion industry by storm as both the companies - Tiffany & Co. and Louis Vuitton are big names in the business when it comes to luxury items. 

Seems like LVMH is having second thoughts about the big purchase because of the situation brought on by the global pandemic and social unrest in the United States. Fashion trade publication WWD broke the news that LVMH said it would not buy the shares of Tiffany in the open market. This caused the shares of the jewellery brand to drop down by nearly 9%. 

Apart from the social unrest linked to the death of George Floyd and the COVID-19 pandemic, the French fashion company has also voiced concerns about the jewellery chain being able to cover all its debts by the end of the transaction. The two companies were expected to join forces by the middle of this year. Reports suggest that this could also be a sign that LVMH wants to negotiate the deal and obtain the shares of Tiffany & Co, at a cheaper price as this would be LVMH's most expensive purchase to date. 

What are your thoughts on LVMH's sudden back-out and the two luxury giants joining forces? Let us know in the comments below.

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