TIF - LVMH Could Expand Its Luxury Empire by Gobbling up Tiffany & Co.
French luxury giant LVMH (OTC: LVMUY) just launched a bid for American jeweler Tiffany (NYSE: TIF) at roughly $120 per share in an all-cash deal. The offer would represent a 22% premium to Tiffany's closing price on Oct. 25 and value the New York-based company at nearly $14.5 billion.
However, Oppenheimer analyst Brian Nagel recently told CNBC that Tiffany would likely reject the bid and wait for a higher offer. The two companies reportedly aren't in active discussions as of this writing, but Tiffany is expected to respond soon. Let's see what the proposed deal could mean for LVMH.
Image source: Tiffany.