TIF - Tiffany Doesn't Need Suitor LVMH Especially at This Price
"I'd marry you for your money in a minute," Holly Golightly said to her love interest in Breakfast at Tiffany's, the 1961 film that put a spotlight on luxury jeweler Tiffany & Co. (NYSE: TIF). These days, Tiffany is not saying the same to its potential suitor, LVMH (OTC: LVMHF). And considering the company's earnings, share price, and position in the jewelry market, it doesn't have to.
Image Source: Getty Images.
First, a little summary: LVMH, owner of the Louis Vuitton brand, last month offered to buy Tiffany for $14.5 billion, or $120 per share. Tiffany's stock, previously trading at about $98 a share, rose by 25% to surpass the offer price. Last week, Reuters reported that Tiffany has asked LVMH to raise the bid.