LVMH scoops up Tiffany for $16.2 billion
Posted November 25, 2019 3:09 a.m. EST
CNN — LVMH and Tiffany & Co. are finally getting together after weeks of anticipation.
The two companies announced Monday that LVMH will buy the iconic Manhattan jeweler. The French luxury group will pay $135 per share, valuing Tiffany at about $16.2 billion.
A deal had been expected for weeks. Analysts have been bullish on the purchase, saying that Tiffany is a good acquisition target because of its strong global brand.
This is a developing story.