Jeweller Tiffany (TIF.N) has been singled out as a target for PPR (PRTP.PA) or Richemont (CFR.VX) after LVMH's (LVMH.PA) take-out of Bulgari (BULG.MI), but a deal will take time and smaller bids are more likely. Of the remaining listed luxury firms Burberry (BRBY.L), Tiffany and Tod's (TOD.MI), analysts and bankers say the U.S. jeweller, which has a market capitalisation of $8 billion, is most likely to be snapped up first, although not immediately. Attention in the luxury sector will focus instead on transactions worth less than 500 million euros. These are set to multiply as growth prospects have rarely been so attractive, driven by the fast-rising purchasing power of emerging markets.
Source
