LVMH confirms talks over possible acquisition of jeweler Tiffany

  • 📰 Reuters
  • ⏱ Reading Time:
  • 35 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 97%

United States News News

United States United States Latest News,United States United States Headlines

LVMH, the world's biggest luxury goods conglomerate, confirms talks over a possible acquisition of jeweler Tiffany & Co, sending LVMH’s shares up 1% in early trading

FILE PHOTO: The logo of U.S. jeweller Tiffany & Co. is seen at a store in Nice, France, October 27, 2019. REUTERS/Eric Gaillard

PARIS - France’s LVMH on Monday confirmed it had approached U.S. jeweler Tiffany & Co over a possible acquisition, in what would be the Louis Vuitton owner’s biggest purchase to date. “In light of recent market rumors, LVMH Group confirms it has held preliminary discussions regarding a possible transaction with Tiffany,” the company said in a statement. “There can be no assurance that these discussions will result in any agreement.”According to one source familiar with the situation, it submitted a preliminary, non-binding offer to Tiffany earlier this month, Another source said the bid valued Tiffany at about $120 per share, equivalent to a $14.5 billion acquisition offer.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Are you gonna ally, or you will get big enemy. Now decide your destiny. 兆はえぐいな

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in US

United States United States Latest News, United States United States Headlines