Global luxury jeweller Tiffany & Co and LVMH Moët Hennessy Louis Vuitton are reportedly in talks over new terms for their proposed merger.
The revised terms could require LVMH to acquire Tiffany for $130 to $133 a share, CNBC reported citing people familiar with the development. The sources also added that the companies are seeking the transaction to be done soon.
Under the original agreement last November, the two companies agreed on a deal that would see LMVH acquire Tiffany & Co for $16.2bn or $135 per share in cash.
Tiffany shares rose approximately 5% on 27 October to about $128.75.
Earlier this week, Tiffany confirmed it received all regulatory approvals needed to complete the acquisition, after securing approval from the European Commission.
Last month, the US Delaware Chancery Court set 5 January 2021 as the trial date for Tiffany & Co’s lawsuit against LVMH.
Tiffany filed a lawsuit against LVMH seeking the latter to stand by its contractual obligation to complete the previously agreed deal.
In June, LVMH revealed plans that it will not acquire luxury jewellery and speciality retailer shares on the market following the coronavirus pandemic.
Tiffany & CO has more than 300 retail stores across the globe under its omnichannel approach.