Court intrigue in Tiffany’s fight with LVMHLVMH declared yesterday that its $16.2 billion takeover of Tiffany was effectively dead, citing a highly unusual request by the French government to delay the closing of the deal. BREAKING — LVMH’s latest maneuver: The company plans to bolster its case by claiming that Tiffany has been mismanaged, violating the terms of the deal, in a countersuit expected within days. regulatory approval, which the conglomerate believes undermines Tiffany’s argument that it is slow-walking the deal process. A key factor in the fight is a French government letter to LVMH. LVMH sent Tiffany a translated copy of the letter, but hasn’t released the French text.

Source: New York Times September 10, 2020 11:27 UTC