The world’s biggest luxury goods firm, LVMH, has cast doubt over its planned $16bn (£12.5bn) takeover of US-based jeweller Tiffany.
LVMH agreed to acquire Tiffany last November, but coronavirus-induced turmoil on financial markets has overshadowed the deal.
After days of speculation, LVMH said on Thursday that it would not buy Tiffany shares on the open market.
It could be a sign that LVMH wants to renegotiate a cheaper price… More here.
Can understand this. It’s a huge amount of money and likely a decent proportion of the asking price is now in doubt.