Tiffany, LVMH agree to new deal terms

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Tiffany & Co. and LVMH have agreed to new acquisition terms.

The new agreement calls for LVMH to pay $131.50 per share for Tiffany, a drop from the original price of $135 per share. That equates to savings of around $430 million.

LVMH agreed to buy Tiffany late last year in a $16.2 billion deal. The agreement came under fire last month when LVMH attempted to back out of the deal.

Read more from The Wall Street Journal.