--LVMH Moet Hennessy Louis Vuitton SE's $16.2 billion offer for Tiffany & Co. looks uncertain as the U.S. market environment has been deteriorating, fashion industry trade journal WWD reported late Tuesday, citing unnamed sources.

--Members of LVMH's board called a meeting Tuesday night to discuss the deal over concerns regarding the coronavirus pandemic in the U.S., as well as the continuing unrest triggered by the death of George Floyd, WWD reported. LVMH's board members are also concerned about Tiffany's capacity to cover its debt covenants at the end of the transaction, WWD said.

--No definitive decision was made during the meeting but the board members seem to be in favor of a reconsideration of the acquisition, WWD reported.

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(END) Dow Jones Newswires

June 03, 2020 06:36 ET (10:36 GMT)