Tiffany: confirms 120-dollar a share offer from LVMH
(CercleFinance.com) - US upscale jeweler Tiffany confirmed on Monday that it has received an unsolicited, non-binding proposal from French luxury giant LMVH to acquire the company for 120 dollars per share in cash.
Tiffany - which points out that the parties are not in discussions - said it is carefully reviewing the proposal.
"Shareholders need take no action at this time," it warned.
In the statement, Tiffany said it is currently executing on its business plan and remains focused on achieving its goals.
The shares were up over 30% in pre-market trading on Monday.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
Tiffany - which points out that the parties are not in discussions - said it is carefully reviewing the proposal.
"Shareholders need take no action at this time," it warned.
In the statement, Tiffany said it is currently executing on its business plan and remains focused on achieving its goals.
The shares were up over 30% in pre-market trading on Monday.
Copyright (c) 2019 CercleFinance.com. All rights reserved.