LVMH Moët Hennessy Louis Vuitton SE (“LVMH”), the world’s leading luxury group and Tiffany & Co. (NYSE: TIF) (“Tiffany”), the global luxury jeweler, today announced that the companies have entered into a definitive agreement whereby LVMH will acquire Tiffany for $135 per share in cash, in a transaction with an equity value of approximately €14.7 billion or $16.2 billion. Source: LVMH Press Release
For the first time, Tiffany & Co. today is revealing exterior renderings of the transformation underway at its Fifth Avenue flagship store. The upper addition (floors 8, 9 and 10) of the 10-story architectural icon located at 727 Fifth Avenue will be completely reimagined from office space originally constructed in 1980, into a new exhibition, event, and clientele space.
Surrounded by a curtain of undulating glass complementing the classic limestone façade below, the contemporary structure above this historic building echoes the height and grandeur of the flagship’s timeless main floor. Construction began on Tiffany’s flagship transformation in spring 2019 and is estimated to be complete in spring 2022.
Aug. 20, 2020– The Board of Directors of Tiffany & Co. (NYSE: TIF) has declared a regular quarterly dividend of $0.58 per share of Common Stock. The dividend will be paid on October 13, 2020 to shareholders of record on September 21, 2020. Future dividends are subject to declaration by the directors. Source Tiffany Press Release
Tiffany is held by 24 funds.