LVMH is close to a deal to buy Tiffany & Co., the fabled U.S. jeweler, for more than $16 billion as it seeks to clinch what would be Chairman Bernard Arnault’s biggest-ever takeover. The French luxury conglomerate’s new proposal -- at $135 a share -- is 12.5% above the initial $120-a-share bid, according to people familiar with the matter. Both companies’ boards are meeting Sunday to approve the latest offer and an agreement could be announced as soon as Monday, the people said, asking not to be identified because the details are private. It’s not the first time that LVMH has raised its bid for Tiffany, a ... (full story)