LVMH targets LA RINASCENTE department stores

Italian premium department store chain La Rinascente Chairman Maurizio Borletti received backing from LVMH to prepare a bid for the Italian department-store chain. Borletti, whose family holds 4 percent of the company that owns 97 percent of La Rinascente, has been granted access to information on the company, according to an e-mailed statement late yesterday.Tamburi Investment Partners SpA is also backing the potential bid, according to daily newspaper Stampa. The investors have until the end of the month to review the information.