Tiffany & Co announced on Tuesday that its shareholders had approved its acquisition by French luxury products maker LVMH Moët Hennessy Louis Vuitton SE or LVMH Group (LVMHF.PK, LVMUY.PK).
Certain compensation arrangements for named executive officers in connection with the merger were approved by the stockholders.
The company announced that the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 in connection with the merger for US antitrust purposes expired as of 3 February 2020.
In November, LVMH agreed to buy the jeweller for £103 per share in cash. The transaction has an equity value of approximately €14.7 billion or £12.4 billion.
LVMH expects the acquisition of Tiffany would strengthen its position in jewellery and further increase its presence in the US. The addition of Tiffany will transform LVMH's Watches & Jewellery division and complement LVMH's 75 distinguished Houses.