Penny-pincher or deal king? Arnault gets his discount in Tiffany takeover – Reuters

Some observers said Arnault’s determination to win a discount from his pre-Covid offer price may cost LVMH, which has built an empire now comprising 76 brands, the ability to court future takeover targets in a highly fragmented sector boasting a large percentage of family-controlled companies.

Others however disagreed, saying Arnault – who is betting the French giant can restore Tiffany’s lustre by investing in stores and new collections – had still managed to get what he wanted. Tiffany also did not want to get bogged down in a potentially drawn-out judicial process whose outcome remained uncertain.