LVMH approaches Tiffany in $14.5bn takeover

Luxury goods company LMVH who are behind Louis Vitton, Givenchy and Chrisitan Dior has confirmed on Monday that they have approached Tiffany & Co over a possible takeover.

LVMH have held “preliminary discussion” over buying the US jewelry giant and made a $14.5bn offer, valuing the company at $120 per share.

LVMH announced there is “no assurance” that the preliminary talks will result in an agreement.