LVMH acquires Tiffany & Co. for $16.2 billion

French luxury group Louis Vuitton Moet Hennessy (LVMH) confirmed its purchase of Tiffany & Co. for nearly $16.2 billion. Following months of extensive negotiation and weeks of speculation, LVMH confirmed the landmark deal, the largest acquisition in the luxury group’s history and one of the biggest business deals of the luxury retail industry. LVMH purchased Tiffany & Co. for approximately $135 per share after initially offering $120 per share.