Latest Jewellery News
GIT, an agency of the Commerce Ministry, emphasised that whereas the industry primarily centres around design and the power to refine uncut jewels, the concept of sustainability shouldn’t be ignored. Citing sources close to the negotiation, enterprise publication Financial Times reports that Tiffany & Co.’s board of directors accepted a new revised offer from LVMH of $US131.50 per share during an overnight assembly on Wednesday 28 October. Quoting sources near the negotiation, US business publication CNBC stories that the 2 parties are in “fluid” talks to revise the phrases of the merger, lowering the general value of the deal from $US135 per share to $130–133 per share. The jewellery company reiterated that the assertion of Material Adverse Effect due to COVID-19 has “no factual, contractual or authorized help”. It additionally refuted claims that it had mismanaged the crisis, stating that store closures had been “entirely consistent with its legal obligations” …
Read More