(Bloomberg) — Tiffany & Co. plunged after Women’s Wear Daily reported LVMH’s deal to buy the luxury jewelry company is uncertain as the U.S. economy faces widespread upheaval.LVMH board members arranged to meet on Tuesday to discuss the proposed deal, WWD reported, citing unidentified individuals. Board members are concerned about the Covid-19 pandemic that has disrupted the U.S. economy and growing unrest over police violence, WWD said. They also expressed concern about Tiffany’s ability to cover its debt covenants at the end of the transaction.Tiffany’s representatives didn’t immediately respond to a request for comment from Bloomberg. LVMH declined to comment. …read more
Source:: Yahoo Finance
