LVMH drops $14.5B deal for Tiffany, cites US tariffs threat

Luxury goods giant LVMH is ending its months-long pursuit of luxury jewellery retailer Tiffany & Co. The French conglomerate said that it needs more time to assess the impact of proposed U.S. tariffs and cannot close the deal before year-end. Tiffany replied that it’s suing to enforce the merger agreement, which was signed last November. The New York company said LVMH’s has no basis in French law. Tiffany also said that LVMH hasn’t even attempted to seek antitrust approval