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government-trade

Court Bumps Request to Waive Hermès Voting Rights

Minority shareholder group sought ruling ahead of May 30 meeting.

PARIS — It looks like Hermès International’s annual shareholder meeting next Monday should go off without a hitch.

On Tuesday, the Paris commercial court postponed a ruling on a request by minority shareholders to waive the family’s voting rights at the meeting on May 30.

Colette Neuville, president of the French Association for Minority Shareholders (ADAM), said the court had postponed its decision until July 12 on a technical issue.

“We were denied a debate,” she said. “There is not much point in pursuing the issue after the (meeting).”

Hermès officials declined to comment. The luxury house last week accused ADAM of “aggression” in its ongoing quest to blunt the will of the family, as it moves to defend itself against a potential takeover bid by LVMH Moët Hennessy Louis Vuitton, which has amassed a 20.2 percent stake in Hermès.