INSUBCONTINENT EXCLUSIVE:
LVMH's initial offer was for $120 per share, which values the company at around $14.5 billion.French luxury giant LVMH has not ruled out
raising its initial $14.5 billion offer to take over US jewellers Tiffany, sources close to the deal told AFP on Friday.The two groups
resumed their stalled talks this week after Tiffany's board asked LVMH to reconsider its bid, which the sources said Tiffany believed was
too low.The owner of Louis Vuitton, Dior and Moet - Chandon revealed late last month it was exploring a takeover of Tiffany, most famous for
its fine diamonds and luxury silver wedding and engagement rings.The deal would be among the largest ever for LVMH, giving it a much bigger
presence in the United States."Raising the price is more than feasible," said one of the sources.A second source, however, said it was
unlikely the new offer would stretch as far as the $135-$140 per share sought by Tiffany's board.LVMH's initial offer was for $120 per
share, which values the company at around $14.5 billion.If LVMH raises its offer, however, the sources said Tiffany would be prepared to
enter exclusive negotiations with the French group -- which would give LVMH access to the accounts of its target.Both sides were said to be
eager to reach a deal.Contacted by AFP, LVMH did not wish to comment
Tiffany did not initially respond to a request for comment.Tiffany, founded in 1837 and headquartered on glamorous 5th Avenue in New York
next to Trump Tower, is the most iconic of US luxury brands, an image reflected in the "Breakfast at Tiffany's " novella by Truman Capote,
made into a film with Audrey Hepburn in 1961.Get Breaking news, live coverage, and Latest News from India and around the world on
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