LVMH, the luxury brand that owns Louis Vuitton, Moët and Hennessy, is reportedly making a $14.5 billion offer to buy Tiffany & Co. Tiffany is now set to soar, with the stock rising more than 19% in premarket. At $14.5 billion, the offer would value Tiffany at $120 a share, which is about 22% higher than Friday's closing price for the jewellery stock. According to the Financial Times, Tiffany is set to reject the offer, as it considers it undervalued.
LVMH, the luxury brand that owns Louis Vuitton, Moët and Hennessy, is reportedly making a $14.5 billion offer to buy Tiffany & Co. Tiffany is now set to soar, with the stock rising more than 19% in premarket. At $14.5 billion, the offer would value Tiffany at $120 a share, which is about 22% higher than Friday's closing price for the jewellery stock. According to the Financial Times, Tiffany is set to reject the offer, as it considers it undervalued.