Tiffany Bid LVMH Moët Hennessy Louis Vuitton wants to buy Tiffany & Co. at a valuation of almost $14.5 billion, or around $120 a share—reportedly a 30% premium on Tiffany's trading price at the time of the bid, which occurred sometime in the last couple weeks. Tiffany will apparently work quickly on its response to the offer. Wall Street Journal
LVMH and Tiffany Tiffany is being taken over by the European luxury conglomerate LVMH Moët Hennessy Louis Vuitton. The $16.2 billion deal is in part a bet on rising luxury consumption in China, where Tiffany is building multiple flagship stores. It's also LVMH's biggest buy yet—CEO Bernard Arnault's previous record was $13 billion for Dior a couple years back. Wall Street Journal
LVMH and Tiffany Fortune's Phil Wahba has examined LVMH's imminent takeover of Tiffany, and sees many opportunities for the European luxury house to make the 183-year-old New York jeweler shine. He writes: "Here is Tiffany's dirty little secret: It's not really a luxury brand like, say, a Harry Winston or a Cartier…LVMH has a good track record of taking a brand upmarket and that will inform what it does to lift Tiffany up." Fortune