Commodities

EXCLUSIVE-LVMH gets access to Tiffany's books after it raises offer-sources

Credit: REUTERS/Eric Gaillard

French luxury group LVMH has persuaded U.S. jewelry chain Tiffany & Co to provide it with confidential due diligence after it raised its bid from $120 per share to close to $130 per share, people familiar with the matter said on Wednesday.

NEW YORK, Nov 20 (Reuters) - French luxury group LVMH LVMH.PA has persuaded U.S. jewelry chain Tiffany & Co TIF.N to provide it with confidential due diligence after it raised its bid from $120 per share to close to $130 per share, people familiar with the matter said on Wednesday.

Negotiations between the two companies are continuing and there is no certainty a deal will be reached, the sources said.

LVMH and Tiffany did not immediately respond to requests for comment.

(Reporting by Greg Roumeliotis in New York Editing by Chris Reese)

((Greg.Roumeliotis@thomsonreuters.com; +1 646 223 6022; Reuters Messaging: greg.roumeliotis.thomsonreuters.com@reuters.net))

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