Bernard Arnault Falls in Love with Tiffany!
LMVH is using M&A as a key lever to accelerate growth and strengthen its leadership position in the global luxury market. The French luxury goods supplier made a proposal to launch an offer for all the shares in the NASDAQ-listed luxury jewellery maker at $120 per share, a premium of 22% over the closing share price of last Friday. This would represent a total value for 100% of the shares of $14.5 billion and a ratio of 26.7 times Tiffany’s last twelve months earnings to September 2019.