By Colin Kellaher

Tiffany & Co. (TIF) shares rose nearly 6% in premarket trading Monday after the iconic jeweler agreed to be acquired by French luxury house LVMH Moet Hennessy Louis Vuitton SE (MC.FR) for about $16.2 billion, or $135 a share.

Tiffany last month said it had received an unsolicited $120-a-share takeover proposal from LVMH, but its shares surged above the offer price, prompting speculation that LVMH would have to raise its bid.

Shares of Tiffany, which closed Friday at $125.51, rose 5.8% to $132.80 in premarket trading Monday.

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

(END) Dow Jones Newswires

November 25, 2019 07:00 ET (12:00 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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