LVMH says it's ending [$16.2 billion] acquisition of Tiffany & Co.

[Johnbt]

Times are tough all over.

"LVMH said its board decided to no longer pursue the acquisition in light of "recent developments," including the possibility of new U.S. tariffs on French goods and Tiffany & Co.'s request to push back the deal's deadline from Nov. 24 to Dec. 31. "

www.foxbusiness.com/markets/lvmh-tiffany-and-co-deal-lawsuit

"Meanwhile, Tiffany & Co. says it will take legal action to ensure the deal goes through and has filed suit in Delaware."

 

[meesmom]

I was just going to start a thread on this! What does this mean?? I love Tiffany & Co....

 

[MarionC]

When I read this I thought back on my years as a lover of Tiffany. I wanted their stock in my portfolio and my financial advisor nixed the idea because she said the company does not do well enough to invest in. Thought that was interesting, and I was really surprised.

 

[flyingpig]

I was just going to start a thread on this! What does this mean?? I love Tiffany & Co....

Nothing changes for general consumers. The share price is down only 10%, which is alot you may think, but surprising muted reaction.

 

[Johnbt]

10%? A minor fluctuation. Some buyers thought they got a good deal because some sellers wanted to sell.

Heck, Tesla (TSLA) shares dropped 21.6% on Tuesday.

"Tesla stock drops 21% in a single day after not being added to the S&P 500"

As always, remember that the market is not the economy. The stock market is forward looking and not solely focused on what's happening right now.