LVMH Raised Tiffany'S Purchase Price To $16 Billion 700 Million.
According to people familiar with the matter, LVMH is close to buying Tiffany (Tiffany & Co) for $16 billion 700 million, after which the American jeweler managed to get a higher offer from the luxury group of Bernard Arnault, Europe's richest man, Bernard (Arnaud).
According to people familiar with the situation, the latest offer from the road group is $135 per share, 12.5% higher than the initial offer of $120 per share. The board of directors of the two companies will meet on Sunday to approve the latest offer, which is likely to be announced on Monday. The full cash acquisition valuation of Tiffany was $16 billion 300 million, and the net debt of the company was about $350 million. On Friday, Tiffany shares fell 0.78% to 125.51 dollars.
The deal is one of the biggest deals in Arnaud's career and will bring a new brand to the Frenchman, such as Louis Vuitton, Dior (Dior) and Sephora, which has considerable influence in the United States and is welcomed by Asian customers.
Since the first time that Lu Wei Hun Xuan group has quoted $120, the two sides have been negotiating for weeks. Last week, the French group raised its offer to $130 per share and was allowed to contact Tiffany's books for due diligence.
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