Tiffany & Co to sue after LVMH ends takeover deal

LVMH is ending its pursuit of luxury jewellery retailer Tiffany & Co (AP/Michel Euler, File)

Luxury goods giant LVMH is ending its takeover deal of luxury jewellery retailer Tiffany & Co, saying the French government had requested a delay to the agreement due to the threat of proposed US tariffs on French goods.

The Paris-based conglomerate said that both the French government and Tiffany had requested that the closing of the deal be postponed. The French government, it said, wanted to assess the impact of the possible US tariffs on French goods.