Media stories, quoting sources near the negotiation, point out that the Tiffany & Co. board has rejected the $US14.5 billion supply as too low, but is ‘receptive’ to a higher bid. Analysts speculate a model new provide will value the corporate at $US130 per share. Moët Hennessy-Louis Vuitton SE submits an unsolicited takeover supply to the Tiffany & Co. board, valuing the US company at $US120 per share. Tiffany & Co. confirms it has received the supply on 28 October, and its share price jumps 32 per cent. Additionally, lower than 10 per cent of watches and jewellery revenue is from the US market, compared with 23 per cent from Europe and 35 per cent from Asia .
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