LVMH Moët Hennessy Louis Vuitton will be having a lot of breakfasts at Tiffany’s — as well as lunches, dinners and board meetings.

The world’s largest luxury goods company is close to completing a deal to buy Tiffany & Company, according to people briefed on the acquisition. The transaction, worth $16.7 billion, would be the largest ever in the luxury sector .

The companies were putting the finishing touches on the deal on Sunday afternoon, with the boards of both companies meeting to approve it, these people said. They hope to announce it on Monday morning.