France's LVMH nears deal to buy U.S. jewelry chain Tiffany for about $16.3 billion: sources
) for about $16.3 billion after sweetening its offer, sources said on Sunday, as the owner of Louis Vuitton and Bulgari aims to tap the fast-growing luxury jewelry market.
The boards of both companies will be presented with the terms of the deal on Sunday, one source said. A deal could be announced later on Sunday or on Monday, two other sources said.The new price is up from $130 last week and $15 higher than the original all-cash offer delivered to Tiffany by LVMH managing director Antonio Belloni on Oct. 18.
Tiffany will help grow its smallest business, give it a bigger share of the lucrative U.S. market and expand in jewelry, the fastest-growing sector in the luxury goods industry.
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LVMH reaches deal to acquire Tiffany for $16.3 billionThe boards of the luxury firms have been discussing a potential deal since last month, and will meet on Sunday to approve a final plan.
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LVMH Nears Deal to Acquire Tiffany for $16.3 BillionLVMH Moët Hennessy Louis Vuitton is nearing a deal to buy famed jeweler Tiffany & Co. for more than $16 billion, according to people familiar with the matter.
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LVMH Nears Deal to Acquire Tiffany for $16.3 BillionLVMH Moët Hennessy Louis Vuitton is nearing a deal to buy famed jeweler Tiffany & Co. for more than $16 billion, according to people familiar with the matter.
Lire la suite »
LVMH reaches deal to acquire Tiffany for $16.3 billionThe boards of the luxury firms have been discussing a potential deal since last month, and will meet on Sunday to approve a final plan.
Lire la suite »