Dueling over diamonds: LVMH says Tiffany not worth buyout

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TIFFANY & CO. has sued LVMH to enforce a now-collapsed $14.5 billion takeover deal of the U.S. jeweler and LVMH has threatened legal action of its own, accusing Tiffany of mismanaging the financial crisis prompted by virus lockdowns. / AP FILE PHOTO/MICHEL EULER
TIFFANY & CO. has sued LVMH to enforce a now-collapsed $14.5 billion takeover deal of the U.S. jeweler and LVMH has threatened legal action of its own, accusing Tiffany of mismanaging the financial crisis prompted by virus lockdowns. / AP FILE PHOTO/MICHEL EULER
PARIS (AP) – It's an ugly spat for such a glamorous industry: French luxury powerhouse LVMH and United States jeweler Tiffany & Co. are blaming each other for the collapse of what would have been the sector's biggest-ever buyout deal. Paris-based LVMH had announced Wednesday it was abandoning the $14.5 billion takeover plan because the…

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