LVMH and Tiffany & Co. have entered into a definitive agreement, whereby LVMH will acquire Tiffany for $135 per share in cash, in a transaction with an equity value of approximately 14.7 billion euros or 16.2 billion USD.
Tiffany was founded in 1837 in downtown Manhattan and has become a symbol of elegance and luxury with its design-driven pieces and iconic blue box.
Bernard Arnault, Chairman and Chief Executive Officer of LVMH, commented: ‘We are delighted to have the opportunity to welcome Tiffany, a company with an unparalleled heritage and unique position in the global jewellery world, to the LVMH family. 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.’