Report: LVMH agrees to buy Tiffany & Co. for $ 18.5 billion – Axios, Axios

France’s LVMH has agreed to buy US luxury jeweler Tiffany & Co. for around $ 18 .5 billion, or $ 135 per share, according to (CNBC’s David Faber) .

Why it matters:This deal is largely about trade war opportunism, as Tiffany has been hammered by decreased Chinese tourism to the US It’s tried to offset that by opening more stores within China, but it’s been hampered there by new Chinese tariffs on US-made jewelry.