1. LVMH Has Countersued Tiffany Over the Firms' $16 Billion Merger, Accusing the Jeweler of Financial Mismanagement

    LVMH Has Countersued Tiffany Over the Firms' $16 Billion Merger, Accusing the Jeweler of Financial Mismanagement
    • LVMH countersued Tiffany on Monday, and said it remains confident that it can walk away from its $16 billion takeover of the US jeweler.
    • Tiffany breached the agreement by paying out the highest possible dividends during the pandemic, French luxury goods conglomerate LVMH claimed in the countersuit.
    • A letter to LVMH from the French government also made it “impossible” to close the deal before the deadline, it added...
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    1. The pandemic, whose effects are devastating and lasting on Tiffany, has irrefutably caused a material adverse effect.
    2. No other luxury company in the world did so during this crisis.
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