TIF-MC FP (LVMH) – OG Risk Arb comments on the litigation regarding TIF
TIF-LVMH — OG Risk Arb comments on (a) LMVH’s Sept 9 PR which refers to a letter from the French government which LVMH claims means that as it stands LVMH is not in a position to close, (b) litigation filed in Delaware by TIF on 9/9 seeking specific performance/declaratory judgment (i) of LVMH’s RBE obligations regarding antitrust, (ii) of LVMH obligation to close, and (iii) preventing LVMH from terminating the deal after the 11/24 Outside date (or in the alternative awarding damages), and (c) LVMH PR on 9/10 announcing that it was surprised by TIF’s lawsuit, it will file EU shortly and it expects approval in October, and it will file suit against TIF claiming (i) a MAC and (ii) an ordinary course violation based primarily on TIF paying substantial dividends when the company was loss making.
(following on the attachment)