LVMH countersues Tiffany over $16B deal

LVMH filed a countersuit against Tiffany in an attempt to walk away from a $16.2 billion takeover deal.

Tiffany filed suit after LVMH called off the acquisition in early September.

In the countersuit, the Louis Vuitton owner cited Tiffany's "mismanagement of its business." In canceling the deal earlier this month, LMVH officials pointed to the threat of U.S. tariffs on French goods and Tiffany's request to extend the deal deadline to the end of the year.

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