Reuters
- LVMH, the luxury brand that owns Louis Vuitton, Moët and Hennessy, is reportedly making a $14.5 billion offer to buy Tiffany & Co.
- Tiffany is now set to soar, with the stock rising more than 19% in premarket.
- At $14.5 billion, the offer would value Tiffany at $120 a share, which is about 22% higher than Friday's closing price for the jewellery stock.
- According to the Financial Times, Tiffany is set to reject the offer, as it considers it undervalued.
- View Business Insider's homepage for more stories.
LVMH, the luxury brand that owns Louis Vuitton, Moët and Hennessy, is reportedly making a $14.5 billion deal to buy jeweller, Tiffany & Co, sending its stock soaring in pre-market trading.
The luxury group first approached Tiffany earlier this month in a bid to expand its access to US luxury shoppers, as reported by Bloomberg Saturday, with more details emerging later,
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