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Louis Vuitton owner eyes Tiffany takeover

cde.news desk · 1 min read
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epa07727820 The exterior of the Louis Vuitton Pop-Up Shop on the Lower East Side of Manhattan, USA, 19 July 2019. The store is dedicated to its mens wear, and the whole exterior and everything on the inside is painted a neon green. EPA-EFE/JASON SZENES

The company behind Louis Vuitton has approached Tiffany over a possible takeover – with the proposed deal reportedly valuing the jeweller at $14.5bn.

LVMH, the world’s biggest luxury group, said following recent speculation it “confirms that it has held preliminary discussions regarding a possible transaction with Tiffany”.

In a brief statement, the company – controlled by French billionaire and Europe’s richest man Bernard Arnault – added: “There can be no assurance that these discussions will result in any agreement.”

The statement did not put a figure on the proposed offer – which the Financial Times reported would value Tiffany at $14.5bn.

 

Via Sky News

Filed under Business
Topics Louis VuittonLVMHTiffany

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