The world’s biggest luxury goods company LVMH is set to buy US-based jeweller Tiffany & Co in a deal worth in excess of $16bn (£12.5bn).
A deal has been struck overnight and would give Bernard Arnault, owner of LVMH, an even bigger share of one of the fast-growing sectors in luxury fashion, the BBC reported.
Arnault said Tiffany & Co had “unparalleled heritage” and fitted in with other brands in the wider LVMH group such as Louis Vuitton, Bulgari and Moët & Chandon.
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