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Business deals

LVMH aims to restore Tiffany's sparkle with $16.2bn takeover

PARIS (Reuters) -- Louis Vuitton owner LVMH has agreed to buy Tiffany for $16.2 billion in its biggest acquisition yet, as the French luxury goods maker bets it can restore the U.S. jeweler's luster by investing in stores and new collections.

The $135-per share cash deal will boost LVMH's smallest business, the jewelry and watch division that is already home to Bulgari and Tag Heuer, help it expand in one of the fastest-growing industry sections and grow its U.S. presence.

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