Following up on the Hermes/LVMH debacle, the most recent news from Bloomberg is that Hermes has called a ‘round table’ with the Dumas family to develop a strategy to tackle the large, and not so quiet, monogrammed elephant in the room. For those of you just tuning in, the MO Down has been following LVMH’s sudden acquisition of Hermes shares, amounting to 17 per cent. The surprise revelation a few weeks ago has sparked rumours of a hostile takeover, and led to speculation that a third party may be needed to keep Hermes in the family.It seems the most recent options include a shareholder pact or the creation of a non-listed holding, company grouping together to protect the descendants’ shares. Recently, the MO Down suggested that luxury conglomerate Richemont might come to the party. Reuters suggests that other institutional friends such as BNP Paribas Bank, and Bank of America Merrill Lynch might help out… At times like this, Hermes needs its friends, so it will be interesting to see if someone, and if so, who, can save the day…
Image credit: luxist.com
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