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Photo: Alex Tai/SOPA Images/LightRocket via Getty Images

LVMH confirmed Monday that it has approached Tiffany & Co. about a possible takeover.

Why it matters: This is as much about trade war opportunism as it is about diamond bracelets in little blue boxes. Tiffany has been hit hard by a decrease in Chinese tourism to the U.S., and it has been trying to play catch-up by opening more locations in China. It has also assumed the added costs of new Chinese tariffs on U.S.-made jewelry.

  • Pricing remains unclear, although reports are that LVMH is contemplating a $120 per share bid that would value Tiffany at around $14.5 billion.
  • That would be a 22% premium to where Tiffany closed on Friday, but traders expect a richer bid — with shares climbing past $130 at today's open.
  • Tiffany's all-time high was $137.56, back in July 2018.

The bottom line: LVMH is synonymous with luxury, and it would use Tiffany to bolster a relatively small jewelry business whose current crown jewel is Bulgari.

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