LVMH said in a statement Monday that the deal values the 180-year old Tiffany and its 300 boutiques worldwide at
It says both companies' boards approved the deal and hope to finalize the takeover in 2020 subject to the approval of regulators and Tiffany shareholders.
LVMH says the deal will strengthen its position in high-end jewelry and in the US market.
Tiffany says the deal will ensure the company's long-term sustainability.
LVMH already owns 75 brands.
© 2019 The Canadian Press. All rights reserved., source