LVMH to Buy Tiffany for $16.2 Billion
25 Novembre 2019 - 8:45AM
Dow Jones News
By Pietro Lombardi
LVMH Moet Hennessy Louis Vuitton SE (MC.FR) has reached an
agreement with Tiffany & Co. (TIF) to buy the U.S. jeweler for
roughly $16.2 billion.
The French conglomerate said Monday that it has reached a
definite agreement to buy Tiffany for $135 a share in cash.
The deal will reinforce LVMH's presence in the U.S. and its
position in the jewelry sector, it said.
"The board has concluded that this transaction with LVMH
provides an exciting path forward with a group that appreciates and
will invest in Tiffany's unique assets and strong human capital,
while delivering a compelling price with value certainty to our
shareholders," Tiffany Chairman Roger Farah said.
The transaction should be closed in mid-2020, the companies
said.
Write to Pietro Lombardi at pietro.lombardi@dowjones.com
(END) Dow Jones Newswires
November 25, 2019 02:30 ET (07:30 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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