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Louis Vuitton parent to buy Tiffany for $16B

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LVMH, the parent company of Louis Vuitton, signed on to buy jeweler Tiffany & Co. for more than $16 billion.

Tiffany & Co. has 300 stores and more than 14,000 employees.

With 75 brands, LVMH is the world's largest luxury goods company.

Read more from BBC News.

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