LVMH Puts a $14.5B Bid on Tiffany & Co.LVMH Puts a $14.5B Bid on Tiffany & Co.
Jewelry brand Tiffany & Co. is reviewing the offer, but no deal is imminent.
October 28, 2019
Jewelry brand Tiffany & Co. has confirmed that LVMH has put in a bid for the company.
LVMH has offered $14.5 billion for the company with shares being priced at $120 each. According to a statement from Tiffany, the organization’s board of directors is currently reviewing the bid and considering whether to take action.
The bid comes during a time of consolidation for high-end retail. Earlier this month, Authentic Brands Group acquired the Barneys brand for $271 million. The purchase of the brand was then quickly leveraged to Saks Fifth Avenue as part of a licensing deal for the retailer.
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