Google to buy wearable Fitbit in the US

The US tech company Alphabet Inc´s Google has made 2,1 billion dollars offer to buy the wearable fitness company Fitbit (FIT) in the US.  According to the companies, Google is investing more in its Wear Os to balance the wearables markets with Apple Watch, Samsung, Huawei and Xiaomi alike.

The deal is expected to face anti-competitive process by the US authorities related to consumer data and privacy. According to Google (GOOGL), the consumer data is kept well and no Google adds will be included. The deal is expected to be finalised during the next year.

The offer, which gives an 19 % premium to Fitbit´s share price compared to Thursday, means an offer of 7,35 dollars a share. Reuters reported on Monday that such a deal is proceeding and after that the share price has increased about 40 % in New York.




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Tiffany: Centerview Partners and Goldman Sachs are financial advisors

Tiffany & Co (TIF) has today made a press release of the takeover bid of the French luxury group LVMH. According to the release, the company says it is carefully reviewing the proposal, which is unsolicited and non-binding.  LVMH Moet Hennessy – Louis Vuitton takeover bid is $120 per share in cash.

– While the parties are not in discussions, Tiffany’s Board of Directors, consistent with its fiduciary responsibilities, is carefully reviewing the proposal, with the assistance of independent financial and legal advisors, to determine the course of action it believes is in the best interests of the Company and its shareholders. Tiffany shareholders need take no action at this time, the company says.

Centerview Partners and Goldman Sachs are serving as financial advisors to Tiffany and Sullivan & Cromwell is serving as Tiffany’s legal advisor, the release states.

LVMH has also published a short stock exchange release saying that according to the market rumours, the French group has made an offer to Tiffany, but the outcome will be seen later.

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Tiffany gets LVMH bid of 120 dollars a share

The US luxury house Tiffany & Co (TIF) has received a takeover bid from the French luxury group LVMH (LVMH). The bid is about 120 dollars a share, valuing the Tiffany to close to 14,5 billion dollars. The closing price of Friday was 98,55 dollars, which means the bid is about 22 % more than the market price.

According to Wall Street Journal, the French luxury group could have to rise the bid if they want to buy the enlargement to the US markets.











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LVMH is considering Tiffany takeover – Bloomberg

The world largest luxury company, the French LVMH (LVMH) is considering a takeover of the US luxury company Tiffany & Co (TIF). The takeover, according to Bloomberg, would increase the French company´s presence in the US markets, but according to the news, there is no guarantee of the possible deal.

Tiffany, which was founded in 1837 in Manhattan, is one of the leading luxury houses in the US with the annual turnover of 4,4 billion dollars and net earnings 586 million dollars in 2018. The company has over 300 brand stores globally for its jewellery, timepieces, accessories and fragrances.  Nearly half of its sales comes from the US markets, while Asia counts about 30 %, Japan 15 % and Europe 11%.

The market cap of Tiffany is about 11,9 billion dollars, while the French rival LVMH is about 190 billion euros.

The French company LVMH has been investing in the US markets and last week the company opened its Louis Vuitton factory in Texas. LVMH´s other brands in the luxury jewellery category are for example Bulgari, Dior, Hublot and Tag Heuer.

Both companies enhance the luxury and sustainability integration and for example Tiffany has launched a Diamond Source Initiative, where customers can know the geographical region of their individually registered diamonds.










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Unicredit and ING to bid for Commerzbank?

The Italian Unicredit (UCG) banking group and the Dutch banking group ING (ING) are considering bidding for the German Commerzbank (CBK). The news, according to Reuters, have been intensive, although the companies do not comment the situation.

According to Reuters, the Italian Unicredit has engaged with investment banker Lazard and JP Morgan for possible takeover. The Italian bank already owns the German lender HVB, based in Munich, and it has been estimated before that the integration of the both banks in Germany would be in the interest of Unicredit.

Commerzbank, of which the German Government owns 15 %, has 13 million customers. The other owners are for example Blackrock (4%), Vanguard (3,1%), Capital Group Companies (2,9%) and the Bank of Norway (2,5%).

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