“LVMH Moët Hennessy Louis Vuitton, the world’s biggest luxury group, says it controls 98 percent of Bulgari of Italy after minority shareholders tendered their shares as part of its offer of 3.7 billion euros ($5 billion). The deal will double LVMH’s watch and jewelry business to around 10 percent of its sales and about 6 percent of operating profit, according to analysts. LVMH said that it had received 31.31 percent Bulgari shares from minority shareholders as of the Friday deadline. In March, the Bulgari family traded its 50.4 percent stake for a 3.5 percent stake in LVMH, while minority shareholders were offered 12.15 euros ($16.38) a share in cash.” – via Reuters