According to Reuters citing sources, French luxury group LVMH's acquisition of American jeweler Tiffany is set to receive formal approval from EU antitrust authorities, as the regulator has completed its review of the deal. The European Commission is also expected to make a decision on the transaction by October 26.
However, the two parties are currently embroiled in a complex dispute. Tiffany first sued LVMH in a Delaware court, accusing the French luxury group of deliberately delaying the completion of the deal. LVMH countersued Tiffany, alleging mismanagement during the COVID-19 pandemic. The trial is expected to take place in January next year, so stay tuned to see how this soap opera ends!
