Luxury goods giant LVMH is to buy jeweller Tiffany for $135 (£105) per share in cash, in a $16.2bn deal.
LVMH, owned by France’s richest man, Bernard Arnault, has brands including Christian Dior, Givenchy, and Bulgari.
“We have an immense respect and admiration for Tiffany and intend to develop this jewel with the same dedication and commitment that we have applied to each and every one of our Maisons [brand houses],” Arnault said.
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