With an offer of 13 billion euros Bernard Arnault, the owner of Lvmh second richest man in the world, also tries to conquer Tiffany, the historic American jewelry.
The offer of the French group Lvmh (120 dollars per share) incorporates a very significant control premium (+22% of the closing price of Tiffany shares on Friday on Wall Street) but it is not certain that it will receive the go-ahead from the board of directors of the American fashion house, who - according to rumors - would be willing to resist or, at least, to further raise the stakes.
For sure Arnault's move is destined to warm up the glittering world of global luxury, already on the stock exchange and to change the balance of power.
As he remembers the Republic lArnault's climb has a bit of the flavor of historical nemesis because the fortunes of Tiffany, also exalted by famous films such as "Breakfast at Tiffany's" with Andrey Hepburn, began in the mid-800s with the sale in the Broadway shop of the jewels of the French aristocracy bought at bargain prices in Paris.
We will soon see if, thanks to stock market prices and some difficulties that Tiffany has shown in recent years, the French will earn in the field – or rather at auction – the longed-for revenge of the jewels.
