LVMH Could Expand Its Luxury Empire by Gobbling up Tiffany & Co.
French luxury giant LVMH (OTC: LVMUY) wants to buy American jeweler Tiffany (NYSE: TIF) at roughly $120 per share in an all-cash deal, according to The Wall Street Journal. The offer would represent a 22% premium to Tiffany's closing price on Oct. 25 and value the New York-based company at nearly $14.5 billion.
But the Journal's sources say that LVMH could hike that bid since Tiffany traded in the high $130s just over a year ago. The two companies reportedly aren't in active discussions as of this writing, but Tiffany is expected to respond soon. Let's see what the proposed deal could mean for LVMH.
Image source: Tiffany.
Source Fool.com
