LVMH gets access to Tiffany’s books after raising bid
The French group will get exposure to the bridal and diamond category, as well as to US luxury shoppers, if the deal goes through
21 November 2019 - 15:40
New York — French luxury group LVMH has persuaded US jewellery chain Tiffany & Co to provide it with confidential due diligence after it raised its bid to close to $16bn (R235.4bn), people familiar with the matter say.
The development represents a milestone in LVMH’s bid for the iconic US maker of engagement rings. Tiffany earlier in November rebuffed LVMH’s initial $120-per-share all-cash offer, arguing it significantly undervalues it...
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