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France's LVMH nears deal to buy U.S. jewelry chain Tiffany for about $16.3 billion – sources

Bulgari owner LVMH is nearing a deal to acquire Tiffany for $135 per share, the sources said, adding that a deal could be announced either on Sunday or Monday. Reuters reported this week that LVMH had persuaded Tiffany to provide it with confidential due diligence after it raised its bid to close to $16 billion. Tiffany earlier this month rebuffed LVMH’s initial $120-per-share all-cash offer, arguing it significantly undervalued the company. …read more […]

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Novartis Nears Deal to Buy Medicines Co. for $85/Share: WSJ

(Bloomberg) — Novartis AG is close to a deal to buy Medicines Co., the developer of a promising cholesterol drug, for $85 a share, according to news reports.An agreement could be announced today, according to the Wall Street Journal, which assigned a $7 billion price tag to the deal. Umer Raffat, an analyst at Evercore ISI, put the transaction value at $9.1 billion when taking the fully diluted shares into account.The Swiss drugmaker has been conducting due diligence on the Parsippany, New Jersey-based company, Bloomberg reported last week. At $85 a share, Novartis would be paying about a 45% premium …read more […]