LVMH Seen Clinching Tiffany Acquisition Soon – Reports

PARIS — LVMH Moët Hennessy Louis Vuitton is near clinching a deal to buy Tiffany & Co. in a transaction that would surpass $16 billion, topping records as the sector’s largest takeover, according to a flurry of press reports Sunday. The luxury giant last month confirmed it had offered $120 per share for the fabled American jeweler, but following a weeks-long takeover dance, has raised its proposal to $135 per share, according to a report that originally appeared in the Financial Times Sunday.  Tiffany and LVMH declined to comment Sunday. If the deal goes through, LVMH will gain a foothold in the high-end American market as well as significantly bolster its position in jewelry, a sector that has been dominated by rival Compagnie Financière Richemont, which owns Cartier and Van Cleef & Arpels.  Tiffany, which is considered one of the few true American luxury labels, has been the subject of takeover talk for years, at times fueled by criticism it was underperforming financially. Critics cite the jeweler’s weaknesses as including an unwieldy retail network and reliance on business in Hong Kong, which has been disrupted by protests. Adding to its challenges is slower Asian tourism to the U.S. Some analysts have said the deal would make sense for Tiffany, which

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