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10/26/2020, 11:40 PM (Source: TeleTrader)
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Tiffany gets EU's approval for LVMH deal

American luxury jewelry retailer Tiffany & Co. announced that its acquisition by Moet Hennessy Louis Vuitton SE (LVMH) has been approved by the European Commission.

The company added that the EU's approval provided it with all the legal means necessary to finalize the deal, originally scheduled to take effect by early July.

A month ago, LVMH revealed that it asked the EU's antitrust regulators to approve the acquisition after reports claimed that the French luxury goods firm wanted to back out of the deal.

Breaking the News / BU