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  • French luxury giant LVMH and US jeweller Tiffany buried the hatchet in their bitter takeover battle on Thursday, agreeing to lower the price of the deal so that the merger can finally go ahead. "LVMH, the world's leading luxury products group, and Tiffany, the global luxury jeweller, today announced that they have concluded an agreement modifying certain terms of their initial agreement to reflect a purchase price of $131.50 (per share) in cash and to reduce closing conditionality. Other key terms of the merger agreement remain unchanged," the French group said in a statement. Previously, the price of the deal had been set at $135 per share. abx/pn/spm/tgb
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  • LVMH, Tiffany agree to merger at lower price: statement
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