LVMH eyes swoop for jewellery giant Tiffany

Luxury goods powerhouse LVMH on Monday confirmed it is in talks to buy Tiffany, in an approach that would reportedly value the US jeweller at $14.5bn (£11.3bn).

Fashion firm Louis Vuitton’s parent LVMH, said “it has held preliminary discussions regarding a possible transaction”.

Jefferies analyst Flavio Cereda said: “If a bid at this [reported] level, or indeed higher, was confirmed, it would be the largest M+A transaction to date for LVMH but one it could comfortably afford.”

LVMH, led by France's richest man, Bernard Arnault, owns a number of jewellery companies including Bvlgari and Dior watches.

As at this morning Tiffany, which was founded in 1837 and is known for its diamond engagement rings, was yet to comment. However sources close to the talks have suggested Tiffany believes the offer undervalues the company.

Among LVMH’s most recent swoops are a $3.2 billion deal announced in December 2018 for the upmarket hotels and travel group Belmond.