UPDATE 3-French luxury group LVMH offers to buy U.S. jeweler Tiffany -sources [Yahoo! Finance News]
TIFFANY (TIF)
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Source: Yahoo! Finance News
UPDATE 3-French luxury group LVMH offers to buy U.S. jeweler Tiffany -sources Updates with offer price, Tiffany declining to comment) By Greg Roumeliotis Oct 26 ) - Louis Vuitton owner LVMH has approached Tiffany & Co with a $14.5 billion acquisition offer, people familiar with the matter said, at a time when the U.S. luxury jeweler grapples with the impact of tariffs on its exports to China. LVMH, which has for years been looking for ways to expand in the U.S. market, submitted a preliminary, non-binding offer to Tiffany earlier this month, one of the sources said. LVMH's offer valued Tiffany at about $120 per share, another of the sources added. Tiffany shares ended trading on Friday at $98.55. Tiffany has hired advisers to review LVMH's offer but has not yet responded to it, and there is no certainty that it will negotiate a deal, according to the sources. The sources asked not to be identified because the matter is confidential. LVMH and Tiffany declined to comment. reported ear
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