LVMH asks the Delaware courts to … take their time

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.

Read also: Tiffany sues LVMH for non-compliance with buyout agreements

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 takeover operation estimated at $ 16.2 billion (13.7 billion euros) and is claiming a verdict before November 24, the deadline for finalizing the agreement.

Read also: 14.7 billion euros for Tiffany: LVMH has never bought anything so expensive

LVMH asks court to dismiss Tiffany’s claim

In its press release, LVMH says it asked the court to reject Tiffany’s request “to rule within such a short period 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.

Read also: LVMH-Tiffany merger: “Le Drian made the right decision”, judge Bruno Le Maire

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