Tiffany has filed a suit in the Delaware Court of Chancery to compel LVMH to abide by its contractual obligation and complete the planned $16.2 billion acquisition of the American jeweler. Tiffany noted the deal has taken longer than initially expected and concerns have been growing in some quarters that LVMH was slow walking the process of obtaining regulatory approval. According to the brand, COVID-19 pandemic has not prevented other dealmakers from making antitrust filings and that, of the 10 biggest transactions announced since the beginning of the fourth quarter, this is the only deal that hasn’t been formally filed for antitrust approval in the European Union.

The Tiffany deal, secured before the world was upended by COVID-19, was seen as giving LVMH a tighter grip on the lucrative high-end jewelry segment. Combining the financial firepower of the world’s largest luxury group with the iconic American house — known globally for its robin’s egg-colored packaging and classic engagement ring settings — was seen as creating a more robust competitor to the leading jewelry label Cartier, which belongs to Compagnie Financière Richemont.