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
Why We Need Older Women in the Workplace
25 Famous Women on Being in Charge
Charlize Theron Gets a Black Belt in Ghosting
Want to Be Better at Your Job? Have a Kid.
Senate GOP Loses Battle, Sets Up War Over Planned Parenthood
The Indie Rocker Who Prefers Women With Pubes
Air-Conditioning Really Is a Sexist Conspiracy
Praise the Patron Saint of Freaky Ladies
Dress Like a Boss, Even If You’re Not One (Yet)
Elizabeth Warren Schools the GOP on Women’s Rights
From Our Partners
The Clever Makeup Hack That Will Make Your Cat Eye Last All Night
5 Best Sex Positions to Practically Guarantee an Orgasm
The Zoe Report
The New Weekend Uniform
Could This Be Taylor Swift’s Most High-Fashion Look Yet?
powered by PubExchange
Latest News from The CutBenevolent Goddess Kim Kardashian Attends Fan’s 21st Birthday
Her presence is presents enough.Idris Elba Makes Men’s History, Covers Maxim
He is the magazine's first male cover subject.A Model With a Selfie Stick Takes on Manhattan
A short video starring Dree Hemingway.Lenny Kravitz’s Dick Wants to Fly Away
A NSFW narrative of freedom.10 Surfer Girls on Their Favorite Conditioners
Keep your beach hair from getting fried.Kelly Osbourne Was Reminded That Ironic Racism Is Still Racist
She was aiming for Daily Show but landed closer to Tosh.0.Jewelry Experts Settle Controversial Earring-Back Debate
We don't know what to believe anymore.Rihanna Went to Carnival and Lived Her Best Life
May we all find our Carnival.Arnold Scaasi Put an American Stamp on Couture
The socialite and First Lady–beloved designer has died at 85.How to Have the Classiest Desk in the Office
Fancy pens and paperweights.
This week's sex diary.Tina Brown Talks Sexism, Power, and Women’s Careers
"I always found being a woman was a Trojan horse."Elizabeth Warren Schools the GOP on Women’s Rights
Watch the rousing defense of Planned Parenthood she gave in the Senate yesterday.Meryl Streep Wore a Sheer Jumpsuit
With polka dots.Models Are Back on This Season’s Magazine Covers
Thanks, Instagram!You’ll Wear These Chic Sunglasses Every Day
There's no better way to hide a late night.Why We Need Older Women in the Workplace
They show us who we want to be.Senate GOP Loses Battle, Sets Up War Over Planned Parenthood
The failed vote set up a government-shutdown fight and ensured the “War on Women” will be front and center in 2016.Praise the Patron Saint of Freaky Ladies
A new documentary gives Adina Howard her due.25 Famous Women on Being in Charge
CEOs, media moguls, entertainers, and heads of state on calling all the shots, demolishing the glass ceiling, and reclaiming the word bossy.