The boards of the luxury firms have been discussing a potential deal since last month, and will meet on Sunday to approve a final plan.
at $135 a share in cash, or $16.3 billion, according to sources familiar with the matter.
Jewelry was one of the strongest performing areas of the luxury industry in 2018, according to consultancy Bain & Co, which forecast that comparable sales in the $20 billion global market were set to grow 7% this year.
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