LVMH Reaches Deal To Acquire Tiffany & Co. For $16.2 Billion

LVMH is set to acquire Tiffany & Co. for $16.2 billion, marking the largest deal in the luxury sector's history. This acquisition aims to strengthen LVMH's position in the jewelry market and expand its presence in the U.S. LVMH, which owns 75 brands including Dior and Bulgari, sees this as a strategic move to bolster Tiffany's sales and ensure its growth. Tiffany, known for its iconic blue boxes, has faced declining sales recently. The deal is expected to close by mid-2020.

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