The global luxury group, the French LVMH and the US jeweler Tiffany (TIF) are having their board meetings today on Sunday and it might be possible that the merger deal might be announced already on Monday, Bloomberg News says.
According to the information, LVMH has raised the price to 135 dollars a share, which would mean that the valuation of the New York jeweler would be more than 16 billion dollars. Tiffany´s shares closed to 125,51 dollars on Friday in Wall Street giving the market cap of 15,16 billion dollars. In October the LVMH-offering price was 120 dollars per share in cash.
The French LVMH (MC) is trying to enter the US jewellery markets with the acquisition of Tiffany, which has over 300 different retail stores globally. It operates also in the field of luxury watches and home & accessories.
LVMH is the owner of the several well-known brands like Louis Vuitton, Dior, Bulgari, Hublot, Tag Heuer, DKNY, Belmond and Marc Jacobs. LVMH´s shares closed up 1,80 % to 396,20 euros in Paris on Friday.
Picture: Patek Philippe luxury watch “ChronographeFlybackQuantiemeAnnuelReference59601” Baselworld 2019. Tiffany is also reseller of Patek Philippe, Geneva watches.