fareastwarriors Posted September 28, 2020 Share Posted September 28, 2020 LVMH countersues Tiffany in bid to drop $16 billion acquisition https://www.reuters.com/article/businessNews/idUSKBN26J30X . . . LVMH calls Tiffany's prospects 'dismal' as war of words escalates https://www.reuters.com/article/us-tiffany-m-a-lvmh/lvmh-calls-tiffanys-prospects-dismal-as-war-of-words-escalates-idUSKBN26K1U3 Link to comment Share on other sites More sharing options...
fareastwarriors Posted October 14, 2020 Share Posted October 14, 2020 LVMH to win EU antitrust approval for Tiffany deal: sources https://www.reuters.com/article/businessNews/idUSKBN26Z1YZ Link to comment Share on other sites More sharing options...
fareastwarriors Posted October 27, 2020 Share Posted October 27, 2020 Keep updating... https://www.reuters.com/article/businessNews/idUSKBN27B2MP Tiffany-LVMH deal clears regulatory hurdles with EU nod Tiffany & Co has received all regulatory approvals needed for the completion of its $16 billion acquisition by French luxury goods group LVMH, the U.S. jeweler said on Monday after it received a nod from the European Commission. Link to comment Share on other sites More sharing options...
given2invest Posted October 27, 2020 Share Posted October 27, 2020 Faber reports in indirect talks to settle. You don't say? Link to comment Share on other sites More sharing options...
Gregmal Posted October 27, 2020 Share Posted October 27, 2020 Well done here. Great read. Link to comment Share on other sites More sharing options...
clutch Posted October 27, 2020 Share Posted October 27, 2020 Closed my position. It was a quick 11% return. Link to comment Share on other sites More sharing options...
fareastwarriors Posted October 28, 2020 Share Posted October 28, 2020 The sources told Reuters the two sides had agreed to lower the price of the $16 billion takeover to $131.5 per share from $135 per share, and that an announcement that the deal is therefore back on track could come on Thursday. The new terms would mean a discount of $425 million, less than 3% of the initial deal price. https://www.reuters.com/article/us-tiffany-m-a-lvmh/lvmh-tiffany-agree-on-lower-price-in-takeover-deal-sources-idUSKBN27D2F9 Bernard Arnault strikes again and saved $400 million! Link to comment Share on other sites More sharing options...
gfp Posted October 28, 2020 Share Posted October 28, 2020 Well done here. Great read. +1, great job given2invest on laying out the thesis in your video. It was very persuasive and I had penciled in 132, so 131.50 sounds pretty good to me. nice place to park leading up to an election. Good analysis, well communicated. Link to comment Share on other sites More sharing options...
given2invest Posted October 28, 2020 Share Posted October 28, 2020 Well done here. Great read. +1, great job given2invest on laying out the thesis in your video. It was very persuasive and I had penciled in 132, so 131.50 sounds pretty good to me. nice place to park leading up to an election. Good analysis, well communicated. thanks much. very pleased with the outcome. Link to comment Share on other sites More sharing options...
Cigarbutt Posted October 29, 2020 Author Share Posted October 29, 2020 Official press releases released and uncertainty towards a visible end point has improved to happen in early 2021. Price=131.50 https://www.lvmh.com/news-documents/press-releases/tiffany-and-lvmh-modify-merger-price/ Win-wins don't always happen but this is one. Link to comment Share on other sites More sharing options...
Cigarbutt Posted December 30, 2020 Author Share Posted December 30, 2020 Sort of a conclusion for a thread initiated last March. Shareholders overwhelmingly approve at 131.50. https://finance.yahoo.com/news/tiffany-shareholders-okay-lvmh-offer-150343705.html In retrospect (trying to focus on process), it seems Mr. Arnault's strategy was to obtain a rebate of some kind. Recently named Manager of the Decade, it looks like he played on the relative mootness related to the doctrine of frustration (a variant of force majeure). But there were risks, even in retrospect. The doctrine of frustration came about with Edward VII's coronation in 1902. The king developed appendicitis and the coronation was postponed. Those who had paid, in contracts, for various observation sites, asked to have the contracts cancelled and it formed some kind of case law for those frustrated by unforeseen events. i would have thought that a global pandemic was part of the acquisition risks but Mr. Arnault did not make it to where he is by thinking conventionally. it remains to be seen if the acquisition will work out (integration, returns etc) but it was mostly financed with quasi-zero yield debt. Based on outcome, process and disclosures here, it seems given2invest played the game very well. Link to comment Share on other sites More sharing options...
fareastwarriors Posted December 30, 2020 Share Posted December 30, 2020 Was there a closing date provided? Is Tiffany likely to pay 1 more dividend? Link to comment Share on other sites More sharing options...
VersaillesinNY Posted December 30, 2020 Share Posted December 30, 2020 Behind the LVMH-Tiffany Deal: Insults, Lawsuits and Political Intrigue https://www.wsj.com/articles/behind-the-lvmh-tiffany-deal-insults-lawsuits-and-political-intrigue-11609158490 Link to comment Share on other sites More sharing options...
Cigarbutt Posted December 31, 2020 Author Share Posted December 31, 2020 Was there a closing date provided? Is Tiffany likely to pay 1 more dividend? "The transaction is expected to close on Thursday, January 7th, 2021." Link to comment Share on other sites More sharing options...
fareastwarriors Posted December 31, 2020 Share Posted December 31, 2020 Was there a closing date provided? Is Tiffany likely to pay 1 more dividend? "The transaction is expected to close on Thursday, January 7th, 2021." Thanks, can't believe I missed it. Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now