Monday, March 7, 2011

LVMH to buy Italian jeweler Bulgari

The luxury Lifestyle blog (the home of luxury Lifestyle) presents LVMH to buy Italian jeweler Bulgari.

French luxury group LVMH has agreed to buy Rome-based jeweler Bulgari SpA in a cash-and-shares deal worth euro4.3 billion ($6 billion).

The deal will see Bulgari’s founding family become the second largest family shareholders in LVMH behind that of Chief Executive Bernard Arnault.

LVMH also announced a tender offer of 12.25 euros per share to acquire the remaining shares of Bulgari, a 61 percent premium over where they were trading before the announcement.

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