Michael Kors (KORS) Said in Talks to Merge with LVMH - Source

November 11, 2016 2:22 PM EST

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European conglomerate Moet Hennessy Louis Vuitton, or LVMH, is in discussions to acquire UK-based luxury brand Michael Kors (NYSE: KORS), according to a person claiming to have knowledge of the matter. Societe Generale is said to be advising LVMH on the potential bid.

Further details about the transaction, including price, weren't made known.

Rumors surrounding Michael Kors have intensified in recent weeks following several unconfirmed takeover rumors. On Monday a Betaville journalist told Tip TV that an announcement could come as soon as this week. While that now appears unlikely, options traders buzzed about highly unusually activity today in November 55 calls. If these bets are on the mark, an announcement could indeed come sooner rather than later.

Representatives from LVMH and Michael Kors didn't respond to requests to comment.

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