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Hermes Tries New Move To Block LVMH

| Filed under: Fashion SmashionFrancophiliaLVMHHermes

hermes-asks-french-market-authority-for-small-buyout-exemption.jpg

These guys are tenacious!

On Thursday the French Market Authority will meet to discuss Hermes' request to be exempted from buying out minority shareholders.

The three families who own 70% of the company's shares argue that "they effectively control the company already", which keep LVMH from taking over.

However, if they are granted an exemption the French Association for Minority Shareholders will file an appeal because it would "unfairly penalize holders of the less than 10 percent of the company’s capital that is freely traded".

[Image via AP Images.]

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