Home News France / USA – LVMH proposes to buy Tiffany & Co for $14.5 bil

France / USA – LVMH proposes to buy Tiffany & Co for $14.5 bil

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tiffany-coAs per reports first disclosed on Tiffany’s website, the French multinational luxury goods conglomerate LVMH Moët Hennessy – Louis Vuitton SE, has proposed to Tiffancy & Co, the American luxury jewelry and specialty retailer headquartered in New York City, to buy its stake at $120 per share in cash, amounting to $14.5 billion. Speculations are rife that the latter may not settle for less than $140 per share, about $17 billion, even as Tiffany’s shares rose significantly since news broke. As per reports, Tiffany’s is reviewing the proposal yet.

lvmh-louis-vuittonTiffany’s is targeting the millennials and young shoppers, to expand its business. An alliance with LVMH could help its mission to expand in Asian markets. LVMH reported $52 billion in revenues in the last fiscal. It already owns 17 high-end brands already including Gucci, Fendi, Christian Dior, as well as Bulgari jewellery. The merger will give LVMH a bigger presence in the US markets. Despite all signs indicating a possible merger, LVMH has issued a statement that the discussion need not necessarily culminate in an agreement.

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