In the current pandemic climate it is not unusual for companies to blame the chaos caused by the virus for lost business and try and terminate or renegotiate contracts.
One of the biggest examples is currently going through the Delaware courts in the US, where Tiffany is trying to force LVMH to complete its merger valued at £16.2bn.
In September 2020 LVMH notified Tiffany that it was not going ahead with its intended acquisition due, amongst other things, to the French government requesting that completion of the deal be delayed as a tit for tat against US tariffs on French goods.
It will be fascinating to learn of the decision as the Delaware courts are not prone to let buyers off the hook for any reason.
By September 2020 the sparkle, which had initially attracted LVMH to Tiffany, had gone and LVMH called the deal off.