LVMH Group Confirms Preliminary Talks With Tiffany - Quick Facts
(RTTNews) - Luxury products maker LVMH Group (LVMHF.PK, LVMUY.PK) confirmed that it has held preliminary discussions regarding a possible transaction with jeweler Tiffany & Co. (TIF). However, the company added it could not assure that these discussions will result in any agreement.
According to reports, LVMH has offered to buy Tiffany for about $14.5 billion in a deal. LVMH reportedly submitted a preliminary, non-binding offer to Tiffany earlier this month, valuing Tiffany at about $120 per share.
Tiffany is a luxury jewelry and specialty retailer headquartered in New York City. The company, founded in 1837 by the jeweler Charles Lewis Tiffany, became famous in the early 20th century under the artistic direction of his son Louis Comfort Tiffany.
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