French luxury group LVMH has agreed to buy iconic New York jeweller Tiffany & Co. for $16.2 billion U.S. dollars, adding a famed star to its portfolio that already boasts Louis Vuitton, Christian Dior and Bulgari. LVMH said today that it will purchase the 182-year old Tiffany and its 300 boutiques worldwide at $135 dollars a share. The agreed deal is higher than the $14.5 billion dollar cash offer LVMH made last month.
Story: The Associated Press
Photo Credit: Tiffany & Co.