The shareholders of US jewellery company Tiffany gave the green light Tuesday for its acquisition by luxury behemoth LVHM for a sum of USD 16.2 billion, setting the French firm up to become a power player in fine gems at a time that demand is soaring.
The deal comes after a long wooing campaign by LVMH, already the world's top luxury firm overall, for one of the world's most famous jewellery houses, known for wedding rings and diamonds.
In a statement, LVMH announced that "stockholders of Tiffany & Co have voted overwhelmingly to approve the previously announced merger agreement relating to the proposed acquisition of Tiffany by LVMH."
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app