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

Designer Jean-Paul Gaultier, Farida Khelfa and models walk the runway during the Hermes Ready to Wear Spring/Summer 2011 show during Paris Fashion Week at Halle Freyssinet on October 6, 2010 in Paris, France.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".


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