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TIF - Tiffany Opens Its Books As LVMH Opens Its Wallet
Tiffany & Co.
Introduction
Immediately following the announcement by LVMH (LVMHF) of the unsolicited proposed takeover of Tiffany & Co. (TIF), the market speculated on the possibility of a higher offer. That initial bid of $120 was first increased on November 20, as LVMH raised their offer to $130. Finally, on November 24, LVMH again increased the offer to $135 and won approval from the Tiffany board. This latest increase granted LVMH confidential access to Tiffany's books in order to complete their due diligence. Following this announcement, we take a closer look at this