Hermès’s Anti-Takeover Plan Is Safe After All

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Photo: Courtesy of Hermès

Last week, Hermès's anti-takeover plan hit a bump: The French Association of Minority Shareholders (ADAM) made a court appeal to waive the Hermès family's voting rights in the company's annual shareholder meeting, which is set for May 30. ADAM is annoyed by the Hermès family's defense plan against LVMH, but the family was far angrier when ADAM tried to stop them, accusing ADAM of conspiring with LVMH to destabilize the company. On Tuesday, however, the French court assigned to rule over ADAM's case postponed the hearing until after the shareholder meeting, effectively (and passive-aggressively) dismissing their appeal. Colette Neuville, ADAM's president, said they're dropping it: "There is not much point in pursuing the issue."

Court Bumps Request to Waive Hermès Voting Rights [WWD]