French luxury goods giant LVMH secures deal for US jeweller Tiffany

People walk past a Tiffany jeweller’s shop on the Champs Elysees (Michel Euler/AP)

The largest deal in luxury is back on after New York jeweller Tiffany agreed to a slightly reduced offer from Paris-based LVMH.

LVMH will now pay 131.50 dollars (£100) for each Tiffany share, putting the total price tag at 15.8 billion dollars (£12.02bn), down from the 16.2 billion (£12.33) that was first offered earlier this year.