The French LVMH group - parent company of the luxury brand Louis Vuitton - is one of the most successful global companies of recent years. The stock market value of the company has risen in recent years to up to $ 215 billion - that's more than VW, Daimler and BMW currently bring together on the scales.
The French want to expand - and have apparently envisaged a takeover target in the US. LVMH has made a takeover bid, according to the news agency Bloomberg Tiffany. Tiffany is currently worth $ 12 billion (€ 10.8 billion) on the stock market. Representatives of both companies would not have commented on the matter, the report said.
According to the Wall Street Journal, LVMH is ready to put down about $ 120 per Tiffany share. On Friday, the stock was valued at $ 98.55 on the stock market. The Financial Times, citing people familiar with the case, reported that the offer was likely to be rejected.
A takeover of Tiffany would be the largest of LVMH so far. The Americans are currently examining the offer and there is no guarantee of an agreement, it said. Founded 182 years ago, the jeweler is known worldwide for his square blue boxes and his role in the Hollywood movie Breakfast at Tiffany's.
