26-11-2019
LVMH and Tiffany reached a consensus on buying Tiffany in a US$16.2 billion deal, the priciest acquisition in LVMH’s history, more than double the US$7 billion it paid for Christian Dior in 2017.
"[We] have entered into a definitive agreement whereby LVMH will acquire Tiffany for US$135 per share in cash, in a transaction with an equity value of approximately 14.7 billion euros or $16.2 billion," the companies said in a statement.
“Tiffany is an American icon and was on the list of brands for a long time we thought was a good potential match,” Bernard Arnault LVMH chairman and chief executive said. The acquisition adds another prestigious American luxury brands to LVMH's stable of luxury brands that include Louis Vuitton, Dior and Givenchy and strengthen its position in the jewellery sector.
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