By Pamela Barbaglia, Gwénaëlle Barzic and Sarah White
By Pamela Barbaglia, Gwénaëlle Barzic and Sarah White
LONDON/PARIS, Nov 25 (Reuters) – Tiffany was codenamed “Tea” and LVMH was “Latte” within the whirlwind talks that led to the U.S. jeweller being taken over by the French luxurious group for greater than $16 billion, in a homage to famed movie “Breakfast at Tiffany’s”.
The monikers had been an try to make sure secrecy a few deal that LVMH wished to seal swiftly earlier than its rivals may intervene, based on two sources concerned within the talks.
LVMH’s bid strategy was mentioned by executives on the two corporations in mid October, quickly earlier than the French agency launched a giant manufacturing facility in Johnson County, Texas, with U.S. President Donald Trump reducing the ribbon on the opening ceremony.
On Oct. 15, LVMH LVMH.PA executives had flown to New York, in search of to barter an settlement earlier than Tiffany TIF.N reported its subsequent ends in December, one of many sources mentioned.
The urgency was pushed by…