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8/24/2020, 10:47 PM (Source: TeleTrader)
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LVMH, Tiffany delay merger for 3 months - report

Conglomerate LVMH and jewelry retailer Tiffany & Co. will need three more months to complete their merger worth $16.2 billion, CNBC reported on Monday citing sources familiar with the plans.

While the new deadline is believed to be November 24, according to the sources, the agreement still has to receive regulatory approval from the European Union.

Tiffany's acquisition by the French giant should've been finalized by mid-year, according to LVMH, but the coronavirus pandemic has delayed the merger for a couple of months.

Breaking the News / ND