The soap opera-like courtship of luxury goods retailer Tiffany & Co. (NYSE: TIF) by LVMH Moet Hennessy (OTC: LVMHF) seems to be drawing to a close. On Thursday morning, both companies announced that Tiffany had agreed to be acquired by LVMH for $131.50 per share in cash. Additionally, the pair agreed to settle a pending lawsuit in the Delaware Chancery Court. LVMH, itself the product of a series of deals in the luxury goods segment, saw in Tiffany a highly complementary asset available at an attractive price. Originally, this was to be $135 per share when the deal was first set last November. In the wake of the coronavirus pandemic, however, Tiffany was badly affected, suffering notable drops in sales that led to store closures. Image source: Getty Images. In September, LVMH said it was backing out of the deal; Tiffany sued the European conglomerate in Delaware to either honor the agreement or pay damages for withdrawing from it. Both companies professed satisfaction at the latest turn of events. "We are very pleased to have reached an agreement with LVMH at an attractive price and to now be able to proceed with the merger," Tiffany chairman Roger Farah said in a statement. LVMH CEO Bernard Arnault said, "We are as convinced as ever of the formidable potential of the Tiffany brand and believe that LVMH is the right home for Tiffany and its employees during this exciting next chapter." The boards of directors of the two companies have ratified the terms of the deal, they said, and the necessary regulatory permissions have been obtained. It is subject to approval by Tiffany shareholders. The acquisition is expected to close early next year. 10 stocks we like better than Tiffany & Co.When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now… and Tiffany & Co. wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of October 20, 2020 Eric Volkman has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source