LVMH buys Tiffany’s

Reuters reports, LVMH has reached a definitive agreement to buy US jewellery company Tiffany & Co.
LVMH offered $135 per share all-cash, bringing the purchase price to $16.2 billion.

The transaction will close in the middle of 2020.

In 1997 LVMH bought DFS Group (Duty Free Shops) and Sephora (fragrances and beauty).

In diamonds LVMH also cooperates with De Beers.