France's LVMH nears deal to buy U.S. jewelry chain Tiffany for $16.7 billion: FT

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(Reuters) – French luxury group LVMH (PA:) is nearing a $16.7 billion deal to buy Tiffany & Co (N:), the Financial Times reported on Sunday, citing people close to the deal.

The boards of both the companies are set to meet on Sunday to approve LVMH’s $135 per share bid for the U.S. jewelry chain, the newspaper reported

Both the companies were not immediately available for comment on the report.

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