The French luxury group Louis Vuitton Moët Hennessy (LVMH) has increased its offer to the American jewelery chain Tiffany to around 16 billion dollars. This will give the company access to Tiffany’s books, insiders said Thursday.
Tiffany previously rejected a proposal of $ 14.5 billion, but said that with a significantly higher bid the books could be opened for further study. The Americans are said to want to drag out an even better deal. LVMH and Tiffany did not want to respond.
LVMH has been looking for opportunities to expand on the American market for a long time. The company is owned by founder and CEO Bernard Arnault and owns brands such as Dior, Louis Vuitton and Sephora. In 2011 it took over the Italian jeweler Bulgari for billions.