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 toSaks Fifth Avenue
as part of a licensing deal for the retailer.
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