LVMH cautioned off more jumbo acquisitions by Moody’s
Moody’s has warned France’s LVMH that its $16.2bn debt fuelled acquisition of Tiffany & Co. will put its debt metrics near capacity for its A1 rating, as the acquisitive firm lines up $17bn of financing to buy the US jeweller.
LVMH announced on Monday that Tiffany’s board had accepted an increased bid of $135 a share for the company. This catapults the acquisition to the largest in LVMH’s history.
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