In this news, we discuss the Tiffany gets EU antitrust approval for LVMH deal.
(Reuters) – Tiffany & Co TIF.N has received regulatory approvals from the European Commission for its $ 16 billion acquisition by French luxury goods group LVMH LVMH.PA, the US jeweler said on Monday.
The EU move comes amid a legal battle between LVMH and Tiffany, with the latter suing the Louis Vuitton owner in Delaware court, alleging the French company deliberately delayed closing the deal.
Tiffany added that with a nod from the EU, it had all the regulatory approvals needed to complete the deal.
Reporting by Aishwarya Venugopal in Bengaluru; Editing by Maju Samuel
Original © Thomson Reuters