Following the premature termination of its 20-year watch partnership with Swatch, luxury jeweler Tiffany and Co. Is an attractive takeover target, wrote Bloomberg in a lengthy online report released over the weekend.

Despite having ended its alliance with the Swiss watchmaker 16 years early, data collected by Bloomberg suggest that Tiffany has almost tripled its value selling engagement rings since the recession, boosting its market capitalization to $8.6 billion yesterday from $3.1 billion in June 2009. This, said Bloomberg, quoting Fifth Third Asset Management, means that Tiffany may command as much as a 40 percent premium in a $12 billion acquisition.

Among the companies who may be eying the New York-headquartered Tiffany are European luxury retailers like LVMH Moet Hennessy Louis Vuitton and Cie and Financiere Richemont SA. What will particularly attract them is that Tiffany’s projected revenues are forecast to by increase more than 30 percent over the coming next two years, with much of that growth coming outside of the United States.

For its part, a Tiffany spokesperson said that the company does not comments on rumors and speculation. No comments were received either from LVMH and Richemont.