Equity Analyst, LightStream Research

Oshadhi Kumarasiri

An equity research analyst with over 7 years of experience in multiple sectors. Previously worked for one of the world's largest asset managers with about USD2.5trn in AUM, covering small and micro-cap companies in the consumer sphere across Europe and developed Asia. Also experienced in covering multiple industries including banking, insurance and asset management, retail, tech, telco and REIT.

Equity Analyst

Tiffany (TIF US) - LVMH: Happily Ever After

Long-Short Analysis on Japan, Asia and the World

LightStream Research

LightStream conducts quantitatively rigorous and data-driven analysis with a focus on Japan and Asia.

We consistently cover the Tech, Consumer and Industrial sectors, and provide ECM and Events coverage more broadly.

We supplement traditional qualitative insights from company relationships with a robust quantitative foundation that examines as much historical data as is available.
We further refine the accuracy of our insights and calls through the use of alternative data to flesh out current trends, and through a valuation framework that emphasises non-superficial peer group selection and a proper attempt to understand the metrics and changes that have driven security valuations in the past.

Event-Driven

On 28th October 2019, Tiffany &amp; Co, an American luxury jewellery and speciality retailer, confirmed the receipt of an unsolicited and non-binding proposal from LVHM Moet Hennessy, the global leader in luxury goods with over 75 brands, to acquire Tiffany for $14.5bn. This translates to $120 a share which is at a premium of around 22% from Tiffany’s close price on the 25th October 2019. Once the news broke, Tiffany’s share price rallied to $129.94 (up 32% from the 25th October close price) a share before closing at $123.89 a share on 30th October 2019.The announcement by Tiffany says that the Board of Directors are currently reviewing the proposal as it is their fiduciary responsibility, However, we along with various news publications feel that it is highly likely that the offer will be rejected stating that the offer price is too low. The announcement also states that the two parties are yet to even start discussions regarding the offer.

On 28th October 2019, Tiffany &amp; Co, an American luxury jewellery and speciality retailer, confirmed the receipt of an unsolicited and non-binding proposal from LVHM Moet Hennessy, the global leader in luxury goods with over 75 brands, to acquire Tiffany for $14.5bn. This translates to $120 a share which is at a premium of around 22% from Tiffany’s close price on the 25th October 2019. Once the news broke, Tiffany’s share price rallied to $129.94 (up 32% from the 25th October close price) a share before closing at $123.89 a share on 30th October 2019.The announcement by Tiffany says that the Board of Directors are currently reviewing the proposal as it is their fiduciary responsibility, However, we along with various news publications feel that it is highly likely that the offer will be rejected stating that the offer price is too low. The announcement also states that the two parties are yet to even start discussions regarding the offer.

Louis Vuitton Offers to Acquire Tiffany: Luxury Valuation to Semi Luxury Brand