VIENNA -- LVMH Moet Hennessy Louis Vuitton has reached a deal to buy Tiffany less than two months since the proposed acquisition descended into legal wrangling, spurred in part by the recent rebound in China's economy.
The French luxury conglomerate is now set to pay $131.50 per Tiffany share, $3.50 less than the original price announced in November of last year, for a total of $15.8 billion, according to an announcement Thursday. This saves LVMH more than $400 million compared with a price that many in the sector had considered too high.
