Takeover: Louis Vuitton maker eyes €14.5bn Tiffany purchase
LVMH is exploring a €14.5bn acquisition of US jeweller Tiffany & Co in what would be the biggest purchase by the French owner of Louis Vuitton, according to people familiar with the matter.
The luxury group approached Tiffany with a takeover proposal earlier this month, said the sources. Tiffany is evaluating the bid and there's no guarantee an agreement will be reached, they said.
The US company's shares closed at $98.55 on Friday after gaining 22pc this year. LVMH has risen 49pc, giving it a market capitalisation of about $215bn. A takeover of Tiffany would be bigger than the $7bn LVMH paid for the rest of Christian Dior in 2017.
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