LVMH confirms that the tender offer on Bulgari will be launched at a price of 12.25 euros per share.
Following an article that appeared in the daily Italian newspaper ‘Il Sole 24 Ore”, LVMH categorically denies the unfounded and misleading rumours that LVMH could be obliged to increase the price of its offer on Bulgari. LVMH confirms that the formal rectification of the number of shares contributed to LVMH by the Bulgari family on the 30 June does not constitute a new agreement and, as such, has no impact on the price of the public tender offer. The 57,000 Bulgari shares, the mention of which was omitted by the family in the Agreement of 5 March, should have been and have been contributed under the same conditions as the 152,486,348 shares mentioned in the press release of 7 March 2011; in no manner, did LVMH acquire the Bulgari shares at a price higher than that originally fixed for the public offer. LVMH confirms that the public tender offer on Bulgari will be launched at a price of 12.25 euros per Bulgari share.