India, Nov. 21 -- French luxury products maker LVMH Group (LVMHF.PK,LVMUY.PK) has boosted its takeover offer to jeweler Tiffany & Co. (TIF) following which, the companies have entered talks, reports said citing people familiar with the matter.

LVMH now offered to pay about $130 per share for Tiffany after the initial offer of $120 per share was rejected by the company.

Negotiations between the companies are ongoing, and there is no certainty of striking a deal.

In late October, LVMH offered to buy Tiffany in a deal that valued the company at about $14.5 billion. After reviewing the proposal with advisers, Tiffany rebuffed the offer arguing that it significantly undervalues the firm.

The latest offer would value Tiffany at about $16 bill...