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LVMH Moet Hennessy Louis Vuitton SE said Monday that it is in talks over a potential transaction with U.S. jeweler Tiffany & Co.
The French luxury-goods company said that it was responding to market rumors, and that there was no assurance the discussions would result in an agreement.
On Sunday, The Wall Street Journal reported that LVMH MC, +0.35% has proposed a $120 a share takeover offer for Tiffany TIF, +0.90% , valuing the U.S. company at close to $14.5 billion. Shares of New York-based Tiffany closed Friday at $98.55.
