Tiffany gets regulatory nod from Mexico

Tiffany gets regulatory nod from Japanese and Mexican authorities for $16 billion US dollars LVMH deal.

(Reuters) – Tiffany & Co <TIF.N> has received regulatory approval from the Japan Fair Trade Commission and the Mexican competition authority for its contentious $16 billion USD acquisition by luxury goods group LVMH <LVMH.PA>, the U.S. jeweler disclosed in a filing on Friday, September 11th.

Earlier this week, Tiffany sued LVMH, after the French luxury goods giant told the U.S. jeweler it could not complete a $16 billion deal to acquire it because of a French government request and due to the impact of the coronavirus outbreak.

(Reporting by Aishwarya Venugopal in Bengaluru; Editing by Shounak Dasgupta for Reuters)

Source: Reuters