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LVMH Looks Like It May Buy More of Hermès

Hermès requires anyone who buys over 15 percent of their share capital to make a statement of intent, so LVMH, which acquired 17.1 percent of Hermès's stock last week, did so yesterday. While LVMH claimed that they have no intention of taking control of Hermès International or making a public offer in the next six months, they omitted any statements ruling out buying more shares. The Hermès family says they have a “unanimous will to maintain long-term control of the company," and still owns 71 percent of its stock. [WWD]

Photo: Miguel Medina/AFP/Getty Images

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Copyright © 2013, New York Media LLC.
All Rights Reserved.

Copyright © 2013, New York Media LLC. All Rights Reserved.

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