LVMH Submits Tiffany Deal for EU Approval Despite Legal Dispute -- Update
21 Settembre 2020 - 3:41PM
Dow Jones News
(Adds deadline for review of decision.)
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.
The European Commission set the provisional deadline for its
review decision for October 26, according to the authority's
filing.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
September 21, 2020 09:26 ET (13:26 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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