Tiffany soars nearly 30% premarket on LVMH interest

Monday, 28. October 2019 12:55

Shares of Tiffany & Co. soared almost 30% in premarket trading on Monday after LVMH Moet Hennessy Louis Vuitton confirmed it is considering a potential acquisition of the jewelry and silverware retailer.

Earlier in the day, LVMH said it has held preliminary talks with Tiffany but pointed out there "cab be no assurance" the discussion will result in a deal.

Tiffany's stock skyrocketed 28.89% at 7:53 am ET.

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Breaking the News / NP