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LVMH calls off $16B Tiffany takeover

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Louis Vuitton owner LVMH called off its $16.2 billion acquisition of Tiffany & Co.

LVMH officials claimed the U.S. jewelry company and the French government asked it to delay the acquisition beyond the closing date required in the merger agreement.

Tiffany reportedly filed suit in Delaware to enforce the agreement.

Read more from The Wall Street Journal.

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