Editor’s Note
LVMH has confirmed preliminary talks about a potential acquisition of Tiffany & Co., while cautioning that an agreement is not certain.
The French luxury group LVMH confirmed that it has initiated “preliminary discussions” regarding a potential acquisition of the American jewelry firm Tiffany.
the company clarified in a brief statement.
This statement was released following rumors published by the press in recent days, which suggested that the French conglomerate has made an offer of $120 per share. This represents a 22% premium over the jewelry company’s share price at the close of last Friday.
The French company already owns jewelry brands such as Chaumet and Bulgari. This potential acquisition would expand both its portfolio in the sector and its presence in the American market.
Amid ongoing speculation about the fate of this deal, LVMH’s shares on the CAC-40, the main index of the Paris Stock Exchange, were up 0.27% by mid-morning.