LVMH-Tiffany Deal Gets European Approval

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LVMH's $16.2 billion buyout of Tiffany & Co. got the green light from European officials — but the French luxury giant still has cold feet.

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LVMH Moët Hennessy Louis Vuitton’s $16.2 billion buyout of Tiffany & Co. got the green light from European officials — but the French luxury giant still has cold feet.

“All regulatory approvals required for the completion of the merger have now been obtained,” Tiffany said. LVMH started to back away from the deal over the summer and in September publicly said it was walking away, citing a letter from the French government. LVMH shot back that it would carry on with the approval process — and made good on the promise Monday — but has maintained that the New York-based jeweler has been mismanaged during the pandemic.

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