-=Tiffany & Co. (TIF) receives $14.5 billion takeover offer from LVMH (LVMUY)

Tiffany & Co confirms receipt of unsolicited, non-binding acquisition proposal from LMVH (LVMUY) for $120/share in cash
Tiffany & Co. (TIF) responded to media reports by confirming that it had received an unsolicited, non-binding proposal from LMVH Moet Hennessy -- Louis Vuitton to acquire Tiffany for $120 per share in cash. While the parties are not in discussions, Tiffany's Board of Directors, consistent with its fiduciary responsibilities, said it is carefully reviewing the proposal, with the assistance of independent financial and legal advisors, to determine the course of action it believes is in the best interests of the Company and its shareholders. The company advised shareholders to take no action at this time.