New York (AFP)

The French luxury giant LVMH, led by billionaire Bernard Arnault, now offers a little over a billion dollars to buy the American jeweler Tiffany, told AFP on Wednesday two sources close to the case.

The owner of the brands Louis Vuitton and Christian Dior has made a new offer at a unit price of around $ 130 a share, which puts Tiffany at close to $ 16 billion, said the sources on condition of anonymity.

The jeweler has therefore agreed to open his account books.

On October 15, LVMH made an initial proposal at $ 120 per share for a transaction valued at $ 14.5 billion.

This new proposal does not guarantee that the two groups will reach an agreement, warned the sources.

Contacted by AFP, neither Tiffany nor LVMH responded immediately.

On Wall Street, the title Tiffany jumped 3.58% to 127.74 dollars, around 23H15 GMT, approaching the new price proposed by LVMH.

On November 8, other sources familiar with the matter told AFP that LVMH was planning to make a financial gesture to overcome the reluctance of the leaders of the American jeweler, that the French group wants to add to its portfolio of prestigious and iconic brands .

Tiffany's board of directors was open to a marriage between the two companies, but had urged LVMH to raise its first proposal, they added.

There is a willingness on both sides, it was said, to make this transaction, which would allow LVMH to get its hands on one of the few American luxury groups known for its diamonds and engagement rings and whose store Admiral adjoins the Trump Tower on 5th Avenue in New York.

Some experts believe that the acquisition of the US group would expand the branch watches and jewelry LVMH, which already includes among others brands Bulgari, Chaumet, Tag Heuer and Hublot, allowing him to compete with Richemont (Cartier and Van Cleef & Arpels) and to strengthen in the US market, second largest contributor to turnover.

Others argue that Tiffany's growth in recent years is slow compared to its competitors, making it a vulnerable prey in a luxury sector dominated by the race for size and big maneuvers.

© 2019 AFP