LVMH-Tiffany Busted Deal Is Year’s Biggest to End in Court
- Suit to force LVMH to proceed with deal adds to Delaware cases
- Only in rare cases have courts forced a company to transact
This article is for subscribers only.
Tiffany & Co. is suing to force LVMH to go through with its $16 billion acquisition, while LVMH said Thursday it would sue Tiffany to get out of it, in the latest broken deal to wind up in court.
The acrimony between the companies escalated after the French luxury giant moved to back out of its purchase of the iconic jeweler. Bloomberg News reported that LVMH chief Bernard Arnault, France’s richest man, asked for help from the French government in an effort to pull out of the transaction.