Oppenheimer's Brian Nagel: Tiffany seems interested in LVMH bid but not at $120 per share

Tiffany confirmed the receipt of the LVMH takeover offer and has advised shareholders to take no action pending a board review of LVMH. LVMH has offered $120 a share for the jeweler. Brian Nagel, senior equity research analyst at Oppenheimer, joins "Squawk Box" to discuss.