Worse Than Initially Expected: LVMH Holds 20% Stake in Hermes

December 22, 2010 • Fashion


Back in November we reported that French LVMH Moet Hennessy Louis Vuitton, the world's largest luxury-goods maker, was trying to hostally take over Hermes International by acquiring a 17.1% stake in the company. According to the NY Post that stake has been raised to more than 20%, two weeks after Hermes family shareholders vowed to strengthen their takeover defense and telling LVMH to back off.

Descendants of the Hermes founding family are setting up a holding company in defense. They had better move fast!

Source: NY Post

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