Contrary to predictions, it took French stock-market regulators only a few hours to grant Hermès the exemption they needed to go through with their anti-takeover plan against LVMH. The regulation committee, known as AMF, met today to determine the legality of Hermès's scheme to pool 50 percent of the company's shares (the Hermès family owns 70 percent) into an unnamed holding company so that LVMH can't buy up more of them. Under French market regulations, companies are required to issue a public offering when they're regrouping over 33 percent of their shares; Hermès has now been exempt from this rule. Going forward, if LVMH wants to buy any more of Hermès's shares, Bernard Arnault will have to issue a formal offer to the family, which they will most likely take great pleasure in turning down.
Most Viewed Stories
Living in L.A. Made Me Get Over My Body Issues
25 Famous Women on the Best Advice They’ve Ever Given — or Received
I Spent 3 Minutes Inside a -264 Degree Cryotherapy Machine
Ask Polly: Why Doesn’t Anything Feel Fun?
UFC Fighter Ronda Rousey Looks Dangerously Confident
A Definitive Scorecard for All the Dances in Magic Mike XXL
Beyoncé’s Makeup Artist Demystifies Strobing, the ‘New’ Contour
How to Flirt and Make Friends at a Nude Beach
Do Not Apologize for Having Loud Sex
Columbia Won’t Put Trigger Warnings on Next Year’s Reading Lists
From Our Partners
7 Thoughts Every Man Has When He Meets The Right Woman
5 Unexpected Signs That You're Depressed
Real Chinese Women Who Are Now Unrecognizable Due to Plastic Surgery
13 Products Makeup Artists Swear By (But You've Never Heard of)
powered by PubExchange
Latest News from The Cut10 Made-in-America Brands You’ve Never Heard Of
Homegrown.Columbia Won’t Put Trigger Warnings on Next Year’s Reading Lists
The required reading list is being revamped, but it won't include trigger warnings.In Praise of Caitlyn Jenner’s Femme Style
She's been the toast of the paparazzi this week, and it's glorious.Fernanda Niven on Sunscreen, Wellness, and So Much Tea
The creative director of Parasol sun-protective swimwear shares her wellness routine.Workout Moves You Can Do at the Beach
If you're one of those people.A Definitive Scorecard for All the Dances in Magic Mike XXL
The good, the bad, the painfully sexy.DJ May Kwok to Open Rockaway Beach Pop-up Shop
DJ May Kwok made us an exclusive mix to celebrate her new Rockaway Beach surf shop, the Notion.M.A.C Is Opening a Salon for Makeup
Let the pros handle it.How to Win Like UFC Champ Ronda Rousey
"No one has the right to beat you, no matter who they are.”Spotify and Armani Partnered on an App
Time for summer playlists.
Don't fear the two-piece.This Up-and-Coming Model Has Had Quite the Week
Lineisy Montero bagged a Prada campaign and a Teen Vogue cover in one fell swoop.Scott Eastwood (and His Abs) May Save the World
The Suicide Squad actor on his exercise routine and his mission to save the ocean's declining tuna populations.Matt Damon Unleashes Thick, Flowing Ponytail
The latest inductee in the Man-pone Collective.Tanning Bed Use Is Finally on the Decline
Two million Americans wised up.Rihanna’s Met Gown Designer Gets a Paris Exhibit
Guo Pei says she didn't initially want the pop star to wear the dress she chose.Demi Moore Wore a Bucket Hat
A Chic Beach-Towel Upgrade
For the art snobs.Crying Is the New Leaning In
It's our time to shine!Is There Such a Thing As Too Much Avocado?
Let's talk about your guacamole habit.
The etiquette is tricky, but the results can be magnificent. Or so we hear.Nursing-Home Dating Services Sound Better Than OkCupid
Game never dies.10 Men on Bathing Suits and Body Angst
Reflections on Speedos, waxing, and Brad Pitt.You Can Now Bid on Queen Victoria’s Roomy Cotton Panties
The monarch's monogrammed undies are expected to sell for several thousand pounds.Donna Karan Helped Women Look Like Themselves
Over three decades, she ushered in a new definition of femininity.The Women’s Equality Act Will Soon Be a Reality in New York
State lawmakers recently passed the majority of the proposed bills without much fuss.Beyoncé’s Makeup Artist Demystifies Strobing, the ‘New’ Contour
"It's the same thing as highlighting, but with a different name."How One State Is Improving Eating-Disorder Care
Missouri becomes the first state to require that insurance companies cover comprehensive mental-health treatment for people with anorexia and bulimia.Ben Affleck and Jennifer Garner Will Keep Living Together
They're totally committed to this whole co-parenting thing.Lawmakers Trying to Get Cheerleaders Paid Minimum Wage
A California assemblywoman (and former cheerleader) introduced a bill for fair pay.