Hermes has defended itself against any possible take-over by rival LVMH by pooling in their shares in a single holding company, France’s stock market regulator (AMF) reported on Friday. The AMF granted permission to allow a majority of the Hermes family shareholders to group together to form a single holding company with over 50 percent of the company’s equity. This acted as a defense mode against any possible takeover by the LVMH French holding company. – read more at IBTimes
Alex has written for Vanity Fair, Barrons, Bloomberg and Condé Nast Traveler.