LVMH Fires Counterclaims At Tiffany In $16.2B Merger Brawl
Law360 (September 28, 2020, 4:18 PM EDT) -- LVMH launched a promised battery of counterclaims and defenses in Delaware Chancery Court on Monday against a Tiffany & Co. suit accusing the French luxury goods company of breaching a $16.2 billion merger pact, rejecting Tiffany's claims that the deal included an exception for pandemic business meltdowns.
LVMH said the COVID-19 pandemic's "devastating" impact on Tiffany created an unexcused material adverse effect that broke the companies' deal, and that a French government order prevented the merger's closing. (AP Photo/Kirsty Wigglesworth)
In a 241-page answer to Tiffany's suit trying to force the deal's closing, LVMH Moet Hennessy Louis Vuitton argued that the...
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