Tiffany Shares Rise on Report of Increased Bid From LVMH
21 Novembre 2019 - 1:46PM
Dow Jones News
By Colin Kellaher
Shares of Tiffany & Co. (TIF) rose nearly 4% in premarket
trading Thursday amid a report that French luxury house LVMH Moet
Hennessy Louis Vuitton SE (MC.FR) has raised its bid for the iconic
jeweler.
LVMH has persuaded Tiffany to provide it with confidential due
diligence after it raised its bid to around $16 billion, or $130 a
share, Reuters reported, citing people familiar with the
matter.
Tiffany last month said it had received an unsolicited
$120-a-share takeover proposal from LVMH, but its shares surged
above the offer price, prompting speculation that LVMH would have
to raise its bid.
Shares of Tiffany, which closed Wednesday at $123.33, rose 3.7%
to $127.85 in premarket trading Thursday.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
November 21, 2019 07:31 ET (12:31 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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