Business Development Diamonds Jeweller Jewellery Jewelry

Tiffany requests higher offer from LVMH

U.S. jeweller Tiffany & Co has asked French luxury retail giant LVMH, to increase their USD$14.5 billion acquisition offer. According to a report by Reuters, Tiffany & Co have made this request, “arguing that [LVMH] significantly undervalues the U.S. jewelry chain,” continuing “Tiffany’s board decided that LVMH’s $120-per-share, all-cash bid was too low to become the basis for negotiations, the sources said. Tiffany informed LVMH it could open its books and provide confidential due diligence if the French luxury group sweetens its offer, the sources added.”