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LVMH CEO explores ways to renegotiate $16.2 billion deal with Tiffany

CEO Arnault has been in talks with his advisers this week to identify ways to pressure Tiffany to lower the agreed price of $135 per share in cash

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LVMH agreed to acquire Tiffany in November, but the deal has yet to close, pending regulatory approvals

Agencies New York
LVMH CEO Bernard Arnault is exploring ways to reopen negotiations on the French luxury goods giant's $16.2 billion acquisition of US jewellery chain Tiffany & Co, as US social unrest and the coronavirus pandemic weigh on the retail sector, people familiar with the matter said on Wednesday.

LVMH agreed to acquire Tiffany in November, but the deal has yet to close, pending regulatory approvals. Arnault said at the time Tiffany would "thrive for centuries to come" under LVMH, the Reuters reported.

Arnault has been in talks with his advisers this week to identify ways to pressure Tiffany to lower the