The luxury American jewelry retailer has been valued at over $16 billion.
French luxury goods company LVMH — which owns labels Louis Vuitton, Christian Dior, Marc Jacobs, and RIhanna's fashion line — is buying American jewelry retailer Tiffany & Co. for $16.7 billion., the two companies are near reaching a deal after Tiffany & Co.
convinced LVMH to raise its takeover offer by about $600 million. If the deal gets sealed, this will be the Bernard Arnault-owned company's largest takeover to date, as noted byreports that the boards of the two companies are meeting for the approval of LVMH's all-cash bid, and an agreement may be announced as early as Monday.
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LVMH reportedly nearing a deal to acquire iconic New York jeweler Tiffany & Co.Luxury giant LVMH is reportedly nearing an agreement to add Tiffany & Co. to its portfolio. The acquisition deal would value the iconic jeweler at more than $16 billion, according to reports from multiple outlets.
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LVMH reportedly nears deal to acquire Tiffany for $16.3 billion - Business InsiderSources familiar with the matter told Reuters that a deal between LVMH and Tiffany could be announced on Sunday or Monday.
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LVMH Nears Deal to Acquire Tiffany for $16.3 BillionLVMH Moët Hennessy Louis Vuitton is nearing a deal to buy famed jeweler Tiffany & Co. for more than $16 billion, according to people familiar with the matter.
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LVMH reaches deal to acquire Tiffany for $16.3 billionThe boards of the luxury firms have been discussing a potential deal since last month, and will meet on Sunday to approve a final plan.
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