/Louis Vuitton owner LVMH confirms talks to buy Tiffany in what source says could be a $14.5 billion deal

Louis Vuitton owner LVMH confirms talks to buy Tiffany in what source says could be a $14.5 billion deal


PARIS — France’s LVMH on Monday confirmed it had approached U.S. jeweller 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 transation with Tiffany,” the company said in a statement. “There can be no assurance that these discussions will result in any agreement.”


Shoppers walk past advertising for Tiffany & Co. at Toronto’s Yorkdale Mall.

Peter J Thompson/National Post

LVMH, the world’s biggest luxury goods conglomerate, did not give any financial details.

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 US$120 per share, equivalent to a US$14.5 billion acquisition offer.

LVMH shares were up 1 per cent in early trading.

© Thomson Reuters 2019

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