Análisis y valoración de la adquisición de Tiffany & Co por LVMH

Segués Sabaté, Anna; Del Peso Sirvent, Manel

Análisis y valoración de la adquisición de Tiffany & Co por LVMH

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Segués Sabaté, A, Del Peso Sirvent, M. Análisis y valoración de la adquisición de Tiffany & Co por LVMH. 2021. handle: http://hdl.handle.net/10230/48241

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Abstract

The aim of this work is to evaluate the recent Tiffany & Co. acquisition by LVMH group. For carrying out our purpose, we elaborated a complete analysis of the acquired company, we computed the price and also evaluated the resulting positioning of LVMH group after the operation. One of the main reasons to choose this subject has been to deal with a recent economic event that came to its end on January the 7th 2021. Besides, it involves two renowned luxury companies which have been fighting for 16 months over the transaction because of the coronavirus pandemic impact and the subsequent financial crisis. We want to find out whether the price paid for the American company, around 16.000 million Dollars, and the following regret on the price that LVMH seemed to have and that ended up in crossed lawsuits, was due because the initial agreed price was not fair anymore. Why did LVMH try to stop the acquisition? Was it because of the Coronavirus crisis? Did they realize that the agreed price was too high or was it because they could not afford the purchase anymore? We will review all these subjects; thus, we will be able to judge whether the operation was set on the correct terms and the final positioning of LVMH.