LVMH Submits Tiffany Deal for EU Approval
21 September 2020 - 4:05PM
Dow Jones News
By Giulia Petroni
LVMH Moet Hennessy Louis Vuitton SE said late Friday that it has
submitted its $16.2 billion takeover deal for Tiffany & Co,
which is now at the center of a legal dispute, for an EU antitrust
review.
"LVMH confirms that, immediately after receiving approval to
proceed by the European Commission, it has submitted the proposed
acquisition of Tiffany for antitrust review, as it has always
stated it would do," it said.
The luxury-goods giant said eight of the 10 antitrust clearances
required have already been obtained and that it expects to receive
approval from the European Commission and Taiwan before Nov. 24,
the merger agreement's deadline.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
September 21, 2020 01:50 ET (05:50 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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