Luxe fight heating up
LVMH Moet Hennessy Louis Vuitton, the world’s largest luxury-goods maker, raised its stake in Hermes International to more than 20 percent, two weeks after Hermes family shareholders vowed to strengthen their takeover defense.
That’s up from the 17.1 percent it announced in October. LVMH bought the shares on the market, said Olivier Labesse, a company spokesman.
Descendants of the Hermes founding family are setting up a holding company in defense.
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