LVMH Obtains U.S. Clearance for Tiffany Acquisition
February 3, 2020
Cleary Gottlieb is acting as global antitrust counsel for LVMH Moët Hennessy – Louis Vuitton SE (LVMH), the world’s largest luxury goods company, in its $16.2 billion acquisition of global luxury jeweler Tiffany & Co. (Tiffany).
The acquisition of Tiffany is LVMH’s largest deal to date and the biggest in the history of the luxury industry. It will increase LVMH’s presence in the United States and transform its watches & jewelry division, which includes Bvlgari, Chaumet, Dior, Fred, Hublot, TAG Heuer, and Zenith.
The acquisition was announced on November 25, 2019, and the waiting period under the 1976 U.S. Hart Scott Rodino Antitrust Improvements Act expired on February 3, 2020.