Hermes family 'united' in drawbridge defence against LVMH
Hennessy Louis Vuitton
The price of shares in LVMH (Moet Hennessy Louis Vuitton) fell by 0.53 percent to 121.05 euros. LVMH is a leading global luxury products and retailing group owning a long list of top brand names.
 The decision by the Hermes family to lock away more than 50.0 percent of the business in readiness for a siege was taken by a meeting of 73 inheritors in response to a raid by LVMH which captured 17.1 percent of the capital in October.
 The creation of the holding company is intended to prevent LVMH  now the second- biggest shareholder after family interests  from taking control by buying more shares.
 LVMH has said the purchase of its stake was a "friendly" courtship but it has rejected a request from Puech to sell its shares.
 Puech  who chairs the family management board  said that the decision to block LVMH "is one more demonstration to all those who do not want to believe us. We are a united family  driven by the same spirit of transmitting to our descendants the unique jewel which we have received from our parents."
The price of shares in [TGT] fell by 0.53 percent to 121.05 euros. [TGT] is a leading global luxury products and retailing group owning a long list of top brand names.
 The decision by the Hermes family to lock away more than 50.0 percent of the business in readiness for a siege was taken by a meeting of 73 inheritors in response to a raid by [TGT] which captured 17.1 percent of the capital in October.
 The creation of the holding company is intended to prevent [TGT]  now the second- biggest shareholder after family interests  from taking control by buying more shares.
 [TGT] has said the purchase of [TGT] stake was a "friendly" courtship but [TGT] has rejected a request from Puech to sell [TGT] shares.
 Puech  who chairs the family management board  said that the decision to block [TGT] "is one more demonstration to all those who do not want to believe us. We are a united family  driven by the same spirit of transmitting to our descendants the unique jewel which we have received from our parents."