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Tiffany’s shareholders meeting on Wednesday accepted the revised buyback proposal formulated by LVMH.
As a reminder, the offer price has been reduced to $131.50 per share against $135 per share initially planned.
LVMH and Tiffany had been in conflict since the group headed by Bernard Arnault announced in early September that it could not “as is” carry out its buyback project. Arnault accused the American jeweller of management errors and insufficient commercial performance. The two protagonists had therefore initiated legal proceedings against each other.
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