The Strategist

LVMH increases offer to buy Tiffany


11/21/2019 - 09:42



Luxury holding LVMH Moet Hennessy - Louis Vuitton offered to acquire the American jewelry company Tiffany & Co for $ 16 billion instead of the $ 14.5 billion previously proposed, The Financial Times and Reuters reported citing sources. In response, Tiffany & Co promised LVMH to disclose confidential information about its financial position.



DiaLMs
DiaLMs
According to Reuters sources, there are no guarantees that the deal will be concluded. It is noted that Tiffany & Co wants to continue negotiations on a higher price.

The acquisition of Tiffany & Co could become the largest deal in the history of LVMH, exceeding the purchase price of Christian Dior in 2017 for $ 7 billion. Negotiations on the takeover of Tiffany & Co, according to media reports, began at the end of October this year.

Recall that at the end of 2018, LVMH Holding reported record revenue and profit from core operations. Annual revenue increased by 10% and reached € 46.8 billion, operating profit increased by 21% to € 10 billion. Given these indicators, the company increased the amount of dividends to € 6 per share, in 2017 € 5 was paid per share.

source: reuters.com, ft.com




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