Tiffany To Hold Virtual Special Stockholder Meeting On Dec 30 To Vote On Amended LVMH Merger Deal

(RTTNews) - Tiffany & Co. (TIF) said Friday it will hold a special meeting of its stockholders on December 30, 2020 in a virtual meeting format due to public health concerns surrounding COVID-19.

At the special meeting, Tiffany will ask its stockholders to consider and vote on, among other things, a proposal to adopt the company's previously announced amended and restated agreement as well as plan of merger with LVMH Moet Hennessy Louis Vuitton (LVMHF.PK, LVMUY.PK), dated October 28, 2020.

Tiffany said its board of directors has recommended that stockholders vote in favor of the proposal to adopt the merger agreement. The company's stockholders of record at the close of business on November 30, 2020, will be entitled to vote at the meeting.

The transaction is expected to close early in the calendar year 2021, subject to the approval of stockholders at the special meeting.

In late October, Tiffany agreed to accept a lower price of its acquisition by LVMH, ending a legal dispute between them. The new takeover price is $131.50 per share compared to the original takeover price of $135 per share.