September 18, 2020

Volume X, Number 262

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September 15, 2020

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French and American Luxury Brands Litigate Delayed Merger

Dispute in Delaware, Tussle in Brussels

LVMH Moët Hennessy Louis Vuitton of France used business challenges presented by the novel coronavirus to avoid a multi-billion-dollar merger with Tiffany & Co. of New York, according a suit brought by the Tiffany company. Tiffany says LVMH failed to take reasonably necessary steps to obtain regulatory approval of the deal, valued at $16.2 billion. LVMH continues to believe the merger will be authorized next month, October 2020.

Apparently caught by the surprise by the suit, filed in Delaware Chancery Court, LVMH intends to file a suit of its own in Brussels. The French company claims Tiffany’s distribution of dividends to shareholders during the crisis was irresponsible mismanagement of the operation, laying the blame at the feet of Tiffany’s chief executives and its board of directors.

Download Tiffany’s complaint.

© MoginRubin LLPNational Law Review, Volume X, Number 259


About this Author

Competition law is known as “antitrust law” in the United States, as both “antitrust” and “competition law” in the European Union and as “anti-monopoly” laws in other jurisdictions.  MoginRubin lawyers have been leaders in antitrust law for over 35 years, helping companies fight for their place in the market through litigation in federal and state courts around the country and representing their interests before the Department of Justice, the Federal Trade Commission, Congress and state legislatures.  With the combined experience of private litigators, economists and...