{"id":151309,"date":"2020-09-09T22:22:53","date_gmt":"2020-09-09T22:22:53","guid":{"rendered":"https:\/\/www.bnreport.com\/lvmh-says-non-to-tiffany-merger-and-luxury-handbags-start-to-fly\/"},"modified":"2020-09-09T22:22:53","modified_gmt":"2020-09-09T22:22:53","slug":"lvmh-says-non-to-tiffany-merger-and-luxury-handbags-start-to-fly","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/lvmh-says-non-to-tiffany-merger-and-luxury-handbags-start-to-fly\/","title":{"rendered":"LVMH says \u2018non\u2019 to Tiffany merger and luxury handbags start to fly"},"content":{"rendered":"

One of the biggest mergers ever planned in the luxury goods sector sensationally fell apart today as French giant LVMH walked away from its planned marriage with jewellery icon Tiffany & Co (NYSE:TIF<\/a>).<\/p>\n

As with all celebrity break-ups, the fall-out is likely to be ugly with Tiffany already filing a lawsuit to sue the French handbags, spirits and perfumes group.<\/p>\n

Rumours that the deal was in trouble have been circulating since March as the luxury goods sector has borne the brunt of the coronavirus pandemic.<\/p>\n

LVMH has now been accused of being deliberately tardy in getting the regulatory approval for the deal to scupper it, according to the Tiffany press release issued last night.<\/p>\n

For its part, LVMH cited a request from Frances Foreign Affairs Ministry to delay the deal due to a US plan to impose tariffs on French and European goods.<\/p>\n

Tiffany said it was only told this yesterday and it is not a reason to stop the US$16bn merger.<\/p>\n

\u201cWe believe that LVMH will seek to use any available means in an aRead More \u2013 Source<\/a>
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Proactiveinvestors<\/a><\/h5>\n

[contfnewc]
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