Tiffany-LVMH Deal Clears Regulatory Hurdles With EU Nod

Tiffany & Co has received all regulatory approvals needed for the completion of its $16 billion (12.29 billion pounds) acquisition by French luxury goods group LVMH, the U.S. jeweler said on Monday after it received a nod from the European Commission.

The approval from the European competition authorities comes amid a legal battle between LVMH and Tiffany, with the latter suing the Louis Vuitton owner in a Delaware court, alleging that the French company has deliberately been stalling the completion of the deal.