Tiffany (NYSE:TIF) shares are trading higher on Friday after LVMH Moet Hennessy Louis Vuitton SA (OTC:LVMUY) backed down on its pursuit of renegotiating the price of its $16.2 billion acquisition of Tiffany & Co.
Tiffany is a monobrand jeweler with a 180-year history. It is vertically integrated, with around 60% of jewellery produced internally.
Tiffany shares were trading up 6.36% at $121.81 on Friday. The stock has a 52-week high of $134.42 and a 52-week low of $78.60.
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