LVMH-Tiffany deal is back on for $15.8 billion

The backdrop: LVMH backed out of the merger in September, citing new U.S. tariffs on French luxury goods, with the French government either putting pressure on LVMH or the other way around.

• Tiffany believed LVMH was using the tariffs as cover for its cold feet over pandemic-related sales slowdowns and U.S. racial justice protests.

The bottom line: "A source close to the matter told Reuters on Wednesday that Tiffany had recently approached LVMH with a more conciliatory tone. This source said the worsening pandemic in Europe and the U.S. also played a role in bringing the two sides back to the negotiating table as business conditions deteriorate, and that discussions over Tiffany’s management under LVMH had been left for a later date, " per Reuters.