LVMH's $16.2 billion mega deal to acquire Tiffany is looking increasingly uncertain, sources say

AP Images/Paul Sakuma

• LVMH's deal to acquire Tiffany & Co is looking increasingly uncertain, according to a new WWD report.
• LVMH's board, which is reportedly concerned about the COVID-19 pandemic and protests linked to the death of George Floyd in the US, met on Tuesday night to discuss the deal. 
• Sources told WWD that LVMH also expressed concerns about Tiffany's ability to cover all its debt covenants at the end of the transaction.
• Visit Business Insider's homepage for more stories.

French luxury goods group LVMH's $16.2 billion takeover of Tiffany & Co is looking less certain as the jeweler grapples with a deteriorating situation in the US market brought on by a global pandemic and severe social unrest, fashion trade publication WWD reported on Tuesday.

Tiffany's shares closed down nearly 9% after the news.

See the rest of the story at Business Insider

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SEE ALSO: LVMH confirms deal to buy Tiffany for $16.2 billion in its largest acquisition ever

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