Louis Vuitton owner offers to buy Tiffany & Co.


Pineapple Studio/iStock(NEW YORK) — LVMH Moët Hennessy – Louis Vuitton has offered to buy jeweler Tiffany & Co., both companies confirmed Monday.In a statement, Tiffany confirmed it had “received an unsolicited, non-binding proposal from LVMH Moet Hennessy – Louis Vuitton to acquire Tiffany for $120 per share in cash.”Tiffany noted that while both sides are currently not in discussions, its board of directors is reviewing the proposal.LVMH, meanwhile, confirmed in a statement that it has “held  preliminary  discussions regarding a possible transaction with Tiffany.””There can be no assurance that these discussions will result in any agreement,” LVMH, which already owns Christian Dior, Fendi and Givenchy, noted in its statement.Copyright © 2019, ABC Audio. All rights reserved.