LVMHF - Why Tiffany Stock Surged 66% in 2019
Shares of Tiffany (NYSE: TIF) gained 66% last year, according to data provided by S&P Global Market Intelligence.
In October, Tiffany received an unsolicited buyout offer from LVMH Moet Hennessy -- Louis Vuitton (OTC: LVMUY) (OTC: LVMHF) for $120 per share in cash. That represented a premium of more than 30% over where the stock had been trading the week before.
Typically with acquisitions, the stock of the company being acquired will trade around the buyout offer until the transaction is complete. But shares of Tiffany currently trade well above the offer at $133, as investors are betting that another company may come along with a better deal. But that may not happen.