Kekst CNC is handling the $14.5B all-cash bid of LVMH Moet Hennessy-Louis Vuitton, the world’s No. 1 luxury goods group, for Tiffany & Co.
The $120 per-share offer represents a 22 percent premium to Tiffany’s Oct. 25 closing price.
Paris-based LVMH, which also owns brands such as Givenchy, Dior, Krug, Kenzo, Fendi, Pink Shirtmaker, Marc Jacobs and Fenty, says it had preliminary discussions with Tiffany but gives no assurance that a takeover may result from the talks.
Tiffany confirms receipt of “an unsolicited, non-binding bid from LVMH," which it is carefully reviewing.
The New York retailer, which chalked up $4.4B in sales last year, noted that it is “successfully executing on its business plan and remains focused on achieving its goal of becoming the next generation luxury jeweler.”
James Fingeroth, Molly Morse, and Anntal Silver of Kekst CNC, which is part of Publicis Groupe, are handling the US media for LVMH.
Publicis Consultants and DGM Conseil are working the media in France.