LVMH Confirms Talks With Tiffany Over Potential Takeover
October 28 2019 - 04:43AM
Dow Jones News
By Carlo Martuscelli
LVMH Moet Hennessy Louis Vuitton SE (MC.FR) said Monday that it
is in talks over a potential transaction with U.S. jeweler Tiffany
& Co. (TIF).
The French luxury-goods company said that it was responding to
market rumors, and that there was no assurance the discussions
would result in an agreement.
On Sunday, the Wall Street Journal reported that LVMH has
proposed a $120 a share takeover offer for Tiffany, valuing the
U.S. company at close to $14.5 billion. Shares of New York-based
Tiffany closed Friday at $98.55.
At 0808 GMT, shares of LVMH traded 1.3% higher at EUR389.10.
Write to Carlo Martuscelli at carlo.martuscelli@dowjones.com;
@carlomartu
(END) Dow Jones Newswires
October 28, 2019 04:28 ET (08:28 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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