Hermes Demands Louis Vuitton Not Purchase Anymore Of Their Shares And Wants Them To Sell Their 14% Stake

Louis Vuitton purchased 14.2% of Hermes shares, and despite denying any full-on takeover bids, LVMH announced intentions to buy more shares depending on market conditions. Hermes executives are not happy.

In a newspaper interview with Le Figaro today, Patrick Thomas CEO of Hermes and Bertrand Puech  fifth-generation heir of Hermes called for Louis Vuitton  to get rid of his newly-acquired stake. They added that they did not see the shares purchase as "friendly," despite Arnault's assurances that he doesn't plan a hostile takeover. "The family is saying clearly and unanimously: ‘If you want to be friendly, Monsieur Arnault, "get rid of it withdraw".