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2/4/2020, 6:39 PM (Source: TeleTrader)
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Tiffany shareholders approve LVMH acquisition

Shareholders in American jeweler Tiffany & Co. approved on Tuesday the $16.2 billion acquisition bid from French luxury goods company LVMH, the company announced.

"This approval is a significant milestone as we move closer to completing our acquisition of Tiffany, an iconic company with a rich heritage and unique positioning in the global luxury jewelry market," LVMH Chief Executive Officer Bernard Arnault said.

The deal is expected to be finalized in the middle of this year.

Breaking the News / JC