Report: Tiffany, LVMH discuss price cut to settle deal dispute

U.S. jeweler Tiffany & Co. and French luxury goods company LVMH are in talks to settle legal proceedings, people familiar with the matter told Reuters.

The sources said the companies are discussing a revised deal under which LVMH would pay less for Tiffany. The talks could save LVMH about $480 million on the initial $16.2 billion purchase price.

The companies began to clash legally after LVMH last month said it could not complete the transaction by the Nov. 24 deadline.

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