LVMH walked away from its $16.2 billion offer to buy Tiffany this month after claiming a series of poor decisions by Tiffany’s board since the deal was unveiled late last year
Johannes EISELE
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French behemoth LVMH said Tuesday that it had filed a countersuit against the American jewellery brand Tiffany, setting up an unusual legal fight after the collapse of one of the biggest luxury takeover bids in decades.
LVMH walked away from its $16.2 billion offer this month after claiming a series of poor decisions by Tiffany’s board since the deal was unveiled late last year.
It also cited a letter from the French foreign ministry that purportedly asked for a delay to the tie-up because of political uncertainties caused by the long-running trade war between the EU and Washington.
Tiffany rubbished the claims and sued to force LVMH to go through with its bid, and a