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LVMH files countersuit against Tiffany & Co. claiming 'blatant breach' amid breakdown of huge deal

Added 09-29-20 09:04:02am EST - “LVMH announced earlier in September it was backing out of? what was expected to be a historic $16.2 billion deal.” - Foxbusiness.com

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Posted By TheNewsCommenter: From Foxbusiness.com: “LVMH files countersuit against Tiffany & Co. claiming 'blatant breach' amid breakdown of huge deal”. Below is an excerpt from the article.

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Fairlead Strategies founder and managing partner Katie Stockton provides insight into today’s markets.

French luxury brand group LVMH filed a countersuit Monday against Tiffany & Co., after announcing earlier in September that LVMH was backing out of what was expected to be a historic $16.2 billion deal.

The "conditions necessary to close the acquisition of Tiffany have not been met" for several reasons, including a letter from the French minister of Europe and Foreign Affairs asking for the deal to be delayed, LVMH said in a statement Tuesday.

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