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Tiffany sues LVMH after $16 billion deal collapses

September 9, 2020

Via: Fortune

The luxury industry’s biggest takeover is unraveling as LVMH moved to call off a $16 billion 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 U.S.-France trade dispute, while the jeweler said the French giant was trying to leverage the protests against police brutality and the COVID-19 pandemic to seek a lower price.

Tiffany shares plunged as much as 11% in New York, while LVMH gave up gains to trade 0.3% lower in Paris.

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