LVMH ASKS THE DELAWARE JUSTICE NOT TO RULE IN AN EMERGENCY ON TIFFANY’S REQUEST
PARIS (Reuters) – The LVMH group announced Thursday that it had filed its conclusions in the Delaware court, which it asked to reject the request of the American jeweler Tiffany.
Tiffany has filed a complaint in this state on the American East Coast, where the company is registered, in order to force LVMH to finalize the buyout operation estimated at 16.2 billion dollars (13.7 billion euros) and is claiming a verdict before November 24, the deadline for finalizing the agreement.
In its press release, LVMH said it had asked the court to reject Tiffany’s request “to rule so quickly that it would be incompatible with the administration of justice in serenity”.
“By asking justice to rule urgently – and by communicating in a manner as feverish as it is hasty – the leaders of Tiffany have for objective only to avoid having to answer, in particular in front of their shareholders, for their mismanagement and to see their arguments against LVMH fall one after the other, ”adds the French luxury giant.
(Nicolas Delame and Henri-Pierre André, edited by Jean-Michel Bélot)