The billion-dollar takeover of the American jewelery chain Tiffany by the French luxury group Louis Vuitton Moët Hennessy (LVMH) hangs on a thread. Concerns about market conditions in the United States and the consequences of the corona pandemic make LVMH’s board very cautious.

The situation surrounding Corona and the purchase of Tiffany was discussed at a special meeting in Paris. In addition, it is formally excluded that LVMH will buy Tiffany shares on the stock exchange, as indicated in a short statement. The offer has not yet been withdrawn. But Tiffany is now listed on the stock exchange in New York under the offered offer price of $ 135 per share. According to experts, LVMH thus demonstrates its uncertainties about the transaction, by not buying now.

LVMH has long sought opportunities to expand in the U.S. market, and the acquisition of Tiffany would help a lot. LVMH is owned by founder and CEO Bernard Arnault and owns brands such as Dior, Louis Vuitton and Sephora. Shareholders had already cleared the $ 16 billion transaction, which was due to close by the end of the year.

Tiffany was founded in 1837 by jeweler Charles Lewis Tiffany. It currently employs approximately 14,000 people. The chain was acquired by cosmetics company Avon in 1979 and was subsequently taken over by investors. The company’s best-known store is the ultra-chic branch on Fifth Avenue in New York.

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