LVMH approach



If you look at LVMH bid for Tiffany as guide for B, LVMH waited till Tiffany share price was below $100, so surely any bidder for B will wait till B is well below its £23.40 highest to date (2020) share price of last week?

Logic says B is being out manoeuvre by the big boys, so why didn’t the big boys buy B at £12 or £18 years ago - why pay £20+? I can only assume they have better returns elsewhere?