Pineapple Studio/iStock(NEW YORK) — LVMH Moët Hennessy – Louis Vuitton has offered to buy jeweler Tiffany & Co., both companies confirmed Monday.
In a statement, Tiffany confirmed it had “received an unsolicited, non-binding proposal from LVMH Moet Hennessy – Louis Vuitton to acquire Tiffany for $120 per share in cash.”
Tiffany noted that while both sides are currently not in discussions, its board of directors is reviewing the proposal.
LVMH, meanwhile, confirmed in a statement that it has “held preliminary discussions regarding a possible transaction with Tiffany.”
“There can be no assurance that these discussions will result in any agreement,” LVMH, which already owns Christian Dior, Fendi and Givenchy, noted in its statement.
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