The deal to acquire Tiffany was announced last fall and was the largest luxury goods deal in history.
Citing "a succession of events which undermine the acquisition of
The company said French foreign minister
In response,
"We regret having to take this action but
"Tiffany is confident it has complied with all of its obligations under the merger agreement and is committed to completing the transaction on the terms agreed to last year. Tiffany expects the same of
Like most businesses, the luxury retail sector has been disrupted by COVID-19 this year. Global sales are expected to decline by nearly 50% before a slow recovery.
Copyright 2020 United Press International, Inc. (UPI). Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent., source