Market Overview

LVMH, Tiffany Reach $16B Agreement

LVMH, Tiffany Reach $16B Agreement

Fashion conglomerate LVMH (OTC: LVMUY) confirmed an agreement to buy Tiffany & Co. (NYSE: TIF) in a $16.2 billion bid, the companies said in a joint statement on Monday.

What Happened

European fashion conglomerate LVMH will buy the U.S. jewelry company at $135 per share in cash. The original LVMH offer made in October was $14.5 billion, $120 per share, which Tiffany saw as "undervaluing" of their company.

The owner of 75 fashion brands, including Louis Vuitton and Bulgari, aims to strengthen its position in the U.S. and jewelry business with this deal.

Tiffany's board of directors recommended the shareholders to take the deal, according to the statement.

The deal is expected to be closed in the middle of the next year. It will still have to receive regulatory and Tiffany shareholders approvals.

Price Action

LVMH shares traded at $87.39, 0.18% higher at press time. Tiffany's stock closed at 125.51 Friday.

Benzinga reached out to both companies for further comment.


Related Articles (TIF)

View Comments and Join the Discussion!

Posted-In: jewelry LVMH Reuters Tiffany & Co.M&A News Media General Best of Benzinga

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at