LVMH countersues Tiffany, claiming 'mismanagement' scuppered deal
LVMH countersues Tiffany, claiming 'mismanagement' scuppered deal

Paris (AFP) – French behemoth LVMH said Tuesday that it had filed a countersuit against the American jewellery brand Tiffany, setting up an unusual legal fight after the collapse of one of the biggest luxury takeover bids in decades.LVMH walked away from its $16.2 billion offer this month after claiming a series of poor decisions by Tiffany’s board since the deal was unveiled late last year.It also cited a letter from the French foreign ministry that purportedly asked for a delay to the tie-up because of political uncertainties caused by the long-running trade war between the EU and Washington…

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