PARIS — France’s LVMH on Monday confirmed it had approached U.S. jeweller Tiffany & Co over a probable acquisition, in what could be the Louis Vuitton proprietor’s excellent take to this level.
“In light of current market rumors, LVMH Neighborhood confirms it has held preliminary discussions concerning a probable transation with Tiffany,” the firm acknowledged in an announcement. “There would per chance even be no assurance that these discussions will consequence in any agreement.”
LVMH, the realm’s excellent luxury items conglomerate, didn’t give any monetary tiny print.
According to one offer accustomed to the problem, it submitted a preliminary, non-binding offer to Tiffany earlier this month, One other offer acknowledged the expose valued Tiffany at about US$120 per fragment, same to a US$14.5 billion acquisition offer.
LVMH shares had been up 1 per cent in early trading.
© Thomson Reuters 2019