Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
NEW YORK--(BUSINESS WIRE)-- Tiffany & Co. (NYSE: TIF) today responded to baseless and misleading counterclaims finally filed yesterday by LVMH Moët Hennessy-Louis Vuitton SE (“LVMH”) in Delaware Chancery Court -- 18 days after LVMH said it intended to assert claims. Chairman of the Board Roger Farah said, “LVMH’s specious arguments are yet another blatant attempt to evade its contractual obligation to pay the agreed-upon price for Tiffany. Tiffany has acted in full compliance with the Merger Agreement, and we are confident the Court will agree at trial and require specific performance by LVMH...
NEW YORK--(BUSINESS WIRE)-- Tiffany & Co. (NYSE: TIF) today welcomed the decision by the Delaware Chancery Court to grant Tiffany’s motion to expedite its lawsuit against LVMH Moët Hennessy-Louis Vuitton SE (“LVMH”). Tiffany’s lawsuit seeks, among other things, an order requiring LVMH to abide by its contractual obligation under the November 24, 2019 Merger Agreement to complete its acquisition of Tiffany on the previously agreed terms. The Court has set January 5, 2021 to begin a four-day trial. Chairman of the Board Roger Farah said, “We appreciate the Court’s ruling today to expedite the ...
NEW YORK--(BUSINESS WIRE)-- Tiffany & Co. (NYSE: TIF) today responded to the opposition filed today by LVMH Moët Hennessy-Louis Vuitton SE (“LVMH”) to Tiffany’s motion to expedite its lawsuit in Delaware Chancery Court. LVMH asked the Court to hold the trial in six or seven months. Tiffany also corrected multiple inaccurate statements by LVMH regarding the Merger Agreement between the parties. Chairman of the Board Roger Farah said, “LVMH’s opposition to our motion to expedite is the latest attempt to run out the clock to avoid fulfilling its obligations under the Merger Agreement. If LVMH we...
CORPORATES CREDIT OPINION 14 September 2020 Update RATINGS Tiffany & Co. Domicile New York, New York, United States Long Term Rating Baa2 Type Senior Unsecured - Dom Curr Outlook Stable Please see the ratings section at the end of this report for more information. The ratings and outlook shown reflect information as of the publication date. Contacts Christina Boni +1.212.553.0514
NEW YORK--(BUSINESS WIRE)-- Tiffany & Co. (NYSE:TIF) today announced that it has filed a lawsuit in the Court of Chancery of the State of Delaware against LVMH Moët Hennessy-Louis Vuitton SE and related entities (“LVMH”). The lawsuit relates to the November 24, 2019 Merger Agreement between Tiffany and LVMH providing for the acquisition of Tiffany by LVMH and seeks, among other things, an order requiring LVMH to abide by its contractual obligation under the Merger Agreement to complete the transaction on the agreed terms. The lawsuit not only makes clear that LVMH is in breach of its oblig...
The general evaluation of TIFFANY & CO (US), a company active in the Specialty Retailers industry, has been upgraded by the independent financial analyst theScreener with the addition of a star. Its fundamental valuation now shows 3 out of 4 possible stars while its market behaviour can be considered as defensive. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Positive. As of the analysis date August 18, 2020, the closing price was USD 126.14 and...
Small-Caps Closing the Gap Major averages in the US (S&P 500, Dow, Russell 2000) and Europe (STOXX 600 & 50) each had throwbacks to their prior breakout levels last week, with all making successful tests of support amid reports of a potential setback in trade negotiations... see charts below. Thus far, buy-the-dippers have been rewarded. While a retest of these lows is possible -- particularly if something goes awry regarding US-China trade or the Fed -- we continue to believe dips should be bo...
NEW YORK--(BUSINESS WIRE)-- Please replace the release with the following corrected version due to multiple revisions. The corrected release reads: TIFFANY CONFIRMS RECEIPT OF UNSOLICITED, NON-BINDING PROPOSAL FROM LVMH Tiffany Shareholders Advised to Take No Action Pending Board Review Tiffany & Co. (NYSE:TIF) today confirmed it has received an unsolicited, non-binding proposal from LVMH Moet Hennessy – Louis Vuitton to acquire Tiffany for $120 per share in cash. While the parties are not in discussions, Tiffany’s Board of Directors, consistent with its fiduciary responsibilities, ...
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