Tiffany asks LVMH to raise acquisition bid - report

Wednesday, 06. November 2019 20:07

Tiffany & Co. has requested Louis Vuitton SE, also known as LVMH, to raise its acquisition offer, claiming the $14.5 billion bid significantly undervalues the company, media reported on Wednesday.

Reportedly, the board of directors of the American luxury jewelry retailer considers the $120-per-share bid too low and is ready to open its books to provide due diligence if the offer gets raised. LVMH remains interested and is considering lifting the bid, people close to the matter told Reuters.

LVMH previously stated there were no assurances the acquisition talks will result in any agreement.

Related Links: LVMH Moët Hennessy Louis Vuitton SETiffany & Co
Author:
Breaking the News / MD