LVMH will not be buying Tiffany & Co. after all according to a variety of French media reports. This puts an end to the recurring rumors that had been circulating for the past six months suggesting that Bernard Arnault was in talks with Tiffany over a possible acquisition. (Source) The rumors gained momentum again recently following LVMH's purchase of Swiss watchmaker Hublot. (Source) While most financial analysts believe that LVMH is in fact scouting around for further acquisitions of fine jewelers and/or watchmakers, it is widely thought that the sticking point where Tiffany is concerned was the cost - Arnault was of the view that the US fine jeweler was overvalued. Easy come, easy go.
Hmmmm. I wonder if I can get Ton-Ton Bernard to buy me that?
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