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  • November 2021
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The Wolf in Cashmere: LVMH's Bid to Acquire Tiffany

By: Stuart C. Gilson and Sarah L. Abbott
  • Format:Print
  • | Language:English
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Abstract

In November 2019, the iconic U.S. jeweler Tiffany agreed to be acquired by the luxury goods conglomerate LVMH. The $16.6 billion transaction was scheduled to close in mid-2020. However, in 2020, the global COVID-19 pandemic took a toll on the luxury goods sector. In September 2020 LVMH announced that it was backing out of the deal. Tiffany filed suit against LVMH. LVMH countersued, arguing that the pandemic triggered a material adverse effect (MAE) clause included in the merger agreement.

Keywords

Mergers & Acquisitions; Luxury Brand; COVID-19 Pandemic; Mergers and Acquisitions; Health Pandemics; Lawsuits and Litigation; Consumer Products Industry; United States; Europe

Citation

Gilson, Stuart C., and Sarah L. Abbott. "The Wolf in Cashmere: LVMH's Bid to Acquire Tiffany." Harvard Business School Case 222-054, November 2021.
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About The Author

Stuart C. Gilson

Finance
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