French luxury goods group LVMH - Louis Vuitton Moet Hennessy intends to buy Tiffany, the largest multinational jewelry company, and is moving towards a deal, Agence France-Presse (AFP) reported referring to a source close to the ongoing talks. Thus, he confirmed the information previously provided by the newspapers The Wall Street Journal, Financial Times and The New York Times, TASS reported.

According to the source, taking into account the Tiffany debt of the French corporation, the size of the transaction may exceed $ 16.65 billion. Meetings of the boards of managers of the two companies are being held. According to the source, an agreement on the deal is likely to be reached before the opening of the Paris stock exchange by Monday morning, but other options are possible. The source noted that the conclusion of the transaction is more than likely.

According to AFP, if concluded, this will be the largest transaction in the history of LVMH, owned by French billionaire Bernard Arnault. This will not only significantly strengthen LVMH's position in the US market, but also strengthen the company in the global jewelry sector. In 2011, LVMH already bought the well-known Italian company Bulgari - the deal amounted to $ 5.2 billion. The main rivals in the production and trade of jewelry for LVMH are Cartier and Van Cleef & Arpels.

For the second time this year, companies are returning to this deal issue. AFP reports that this time LVMH, having studied the financial situation of Tiffany, increased its financial offer last week - from the initial $ 120 per share to about $ 130. Currently, according to AFP, we are talking about $ 135 per share, which amounts to a total value of more than $ 16.3 billion.

Tiffany was founded in 1837 by Charles Lewis Tiffany and John Young. Its first store was opened in Manhattan in 1853 on the corner of Fifth Avenue and 57th Street. Currently, the Trump Tower, owned by the US president, is located nearby. The company office is in New York.