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LVMH buys Tiffany in $16.2 bn deal

AFP Paris

Last Updated : Nov 25 2019 | 12:50 PM IST

LVMH and US jewellers Tiffany announced Monday a USD 16.2 billion tie-up that is the French luxury group's biggest-ever acquisition and will bolster its presence in the United States.

The companies said in a statement they "have entered into a definitive agreement whereby LVMH will acquire Tiffany for USD 135 per share in cash, in a transaction with an equity value of approximately 14.7 billion euros or USD 16.2 billion.

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