to fast-track legal proceedings in the United States to force the French luxury group to honour an acquisition deal agreed last year.LVMH’s $16 billion purchase of Tiffany hit the rocks last week after the Louis Vuitton owner said it could no longer complete the purchase, citing an intervention by the French government and the U.S. jeweller’s weakening performance.
LVMH, run by France’s richest man Bernard Arnault, said in a statement it saw no reason to speed up the case and argued that having a trial in six to seven months’ time would allow the parties to prepare properly. Tiffany has defended its handling of the health crisis, which hit the luxury sector hard, and said LVMH was trying to run out the clock and cause the deal to collapse.
Tiffany’s left at the alter... hell hath no fury....