When you linking your Twitter Account Market Wire News Trending Stocks news and your Portfolio Stocks News will automatically tweet from your Twitter account.
Be alerted of any news about your stocks and see what other stocks are trending.
Shares of luxury jeweler Tiffany & Co. (NYSE: TIF) have jumped today, up 6.7% as of 3:30 p.m. EDT, after luxury conglomerate LVMH Moet Hennessy (OTC: LVMHF) backed off its threat to renegotiate the terms of its deal to acquire Tiffany.
Here's the background.
Last year, LVMH agreed to purchase Tiffany for $16.2 billion, or $135 per share, in a deal that was -- at the time -- expected to close this month. (The closing was subsequently postponed until October, after a review by antitrust regulators in Australia was delayed.)