LVMH Reportedly Offers To Buy U.S. Jeweler Tiffany For About $14.5 Bln

(RTTNews) - Luxury products maker LVMH Moet Hennessy Louis Vuitton (LVMHF.PK, LVMUY.PK) has offered to buy U.S jeweler Tiffany & Co. for about $14.5 billion in a deal, according to reports citing people familiar with the matter.

LVMH submitted a preliminary, non-binding offer to Tiffany earlier this month. The offer valued Tiffany at about $120 per share, the reports said.

Tiffany is currently evaluating the offer and there's no guarantee an agreement will be reached, the reports said.

Tiffany & Co. is an American luxury jewelry and specialty retailer headquartered in New York City. The company was founded in 1837 by the jeweler Charles Lewis Tiffany and became famous in the early 20th century under the artistic direction of his son Louis Comfort Tiffany.