Tiffany sues as LVMH tries to call off its $16bn purchase
The luxury industry’s biggest takeover has collapsed with the US jeweller saying LVMH is trying to use police brutality protests and Covid-19 to get a lower price
09 September 2020 - 16:25
London/Paris — The luxury industry’s biggest takeover has collapsed into acrimony as LVMH moved to call off a $16bn purchase of Tiffany & Co, which countered with a lawsuit to try to keep the deal on track.
The Louis Vuitton owner cited delays related to a US-France trade dispute, while the jeweller said the French giant was trying to leverage the protests against police brutality and the Covid-19 pandemic to seek a lower price...
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