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LVMH Not Buying Out Shareholders at Hermes

Fab Flash: No Hermes Takeover for LVMH

After months of arguing between LVMH and Hermes, the battle is finally over. The French stock market regulator decided today that LVMH will not be permitted to buy out minority Hermès shareholders. This means that Hermes International can now group together more than 50 per cent of its capital into a holding company to protect the family's control. The AMF is due to publish a report on the case and is still examining whether LVMH violated market rules by buying the shares via equity swaps.

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