By Colin Kellaher

 

Shares of Tiffany & Co. (TIF) surged more than 30% in early trading Monday after the iconic jeweler received a roughly $14.5 billion takeover proposal from French luxury house LVMH Moet Hennessy Louis Vuitton SE (MC.FR).

Tiffany shares were recently changing hands at $128.24, up 30.1% and well above the $120-a-share cash price LVMH proposed in its non-binding bid.

Wall Street analysts in general have said the move makes sense for LVMH, but they also have indicated a belief that the French company will have to raise its bid.

Tiffany said its board is reviewing the LVMH proposal with its financial and legal advisers, adding that it isn't currently in talks with its suitor.

 

Write to Colin Kellaher at colin.kellaher@wsj.com

 

(END) Dow Jones Newswires

October 28, 2019 09:48 ET (13:48 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
LVMH Moet Hennessy Louis... (PK) (USOTC:LVMUY)
Historical Stock Chart
From Feb 2024 to Mar 2024 Click Here for more LVMH Moet Hennessy Louis... (PK) Charts.
LVMH Moet Hennessy Louis... (PK) (USOTC:LVMUY)
Historical Stock Chart
From Mar 2023 to Mar 2024 Click Here for more LVMH Moet Hennessy Louis... (PK) Charts.