Regulator Bends Rules For Hermes In Face Of Takeover

Law360, New York (January 7, 2011, 6:52 PM EST) -- French market regulators have allowed the family that controls Hermes International SCA to pool their assets without offering to buy out minority shareholders, an exemption from French law that shores up their defense against a possible LVMH Group takeover bid.

The Hermes family, which controls the French luxury goods maker, will not have to comply with a rule that requires entities that gain a one-third stake in a company to offer to buy out minority shareholders, the Autorité des Marchés Financiers said Thursday.

The Hermes family...
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