RE-ENGAGE IN TALKS

LVMH, Tiffany eye new prenup to save wedding

LVMH and Tiffany & Co. may be poised to kiss and make up ahead of a dramatic court battle over their $16 billion proposed marriage, The Post has learned.

The luxury conglomerate and the storied New York jeweler are renegotiating the terms of their proposed union after LVMH tried to walk away last month — sparking a heated legal battle that’s slated to go to trial in January, sources said.

The new terms would see LVMH, the French luxury giant behind pricey labels like Louis Vuitton and Fendi, purchase Tiffany for $130 to $133 per share, according to CNBC.

That would be a slight discount from the original price of $135 per share that the companies settled on last year, valuing Tiffany at more than $16 billion.

Each dollar that’s knocked off the per-share purchase price would save LVMH about $121 million based on Tiffany’s number of outstanding shares.

Tiffany has indicated that it’s open to a lower price as long as it isn’t less than $130 per share and LVMH closes the deal without changing any more terms, according to the Financial Times, which first reported the renegotiations on Tuesday.

LVMH declined to comment on the reported talks. Tiffany did not immediately respond to a request for comment.

The developments came a day after the European Commission cleared the blockbuster acquisition, giving it the final regulatory approval needed to complete the deal ahead of a Nov. 24 deadline set last year, Tiffany said in a securities filing.

The bitter legal spat was sparked by LVMH’s move in early September to postpone the November nuptials, prompting the New York-based engagementring maker to sue to keep the deal intact.

Tiffany’s Delaware Chancery Court lawsuit accuses Paris-based LVMH of making excuses for why they could not wed by Nov. 24, and of dragging its feet on seeking approval for the acquisition from antitrust authorities in key jurisdictions, including the European

Union.

Depositions in the case — including possible testimony from billionaire LVMH chief Bernard Arnault, the richest man in Europe — are expected to begin early next month, which may have put pressure on LVMH to renegotiate the deal instead of attempting to kill it altogether.

LVMH countersued late last month, claiming that it’s entitled to back out of the merger because Tiffany’s business prospects had turned “dismal” as a result of the coronavirus pandemic, leading the 183-yearold gem retailer to post a $65 million loss in the spring.

Tiffany called the argument “specious” given that it returned to profitability after one rough quarter.

LVMH also has cited a letter from the French government that purportedly barred it from proceeding with the deal in response to the United States’ threat to impose tariffs on French goods. Tiffany has blasted those claims as “excuses,” claiming LVMH has been stalling to get out of the deal.