The French luxury group LVMH (LVMH) is raising its Tiffany (TIF) offer to 15,8 billion dollars, write the Reuters and Financial Times. According to the news, the new takeover offer is close to 130 dollars a share. This would give the market value of Tiffany to 15,8 billion dollars including the 350 million net debt.
This new offer would mean that the LVMH would be able to have more information about the financials of Tiffany. On the other hand, they have not entered an exclusivity agreement.
The French luxury group LVMH is trying to expand to the US markets with the offer of the 1837 founded US company. Tiffany´s shares has been increasing during the talks and yesterday the closing was down 0,14 % to 123,33 dollars in New York.