FILE PHOTO: The logo of U.S. jeweller Tiffany & Co. is seen at a store in Nice, France, October 27, 2019. REUTERS/Eric Gaillard
NEW YORK (Reuters) – French luxury group LVMH (LVMH.PA) has persuaded U.S. jewelry chain Tiffany & Co (TIF.N) to provide it with confidential due diligence after it raised its bid from $120 per share to close to $130 per share, people familiar with the matter said on Wednesday.
Negotiations between the two companies are continuing and there is no certainty a deal will be reached, the sources said.
LVMH and Tiffany did not immediately respond to requests for comment.
Reporting by Greg Roumeliotis in New York; Editing by Chris Reese