Hermes Hires BNP, BofA to Fight Off Possible Takeover

Hermes International SCA said it hired BNP Paribas SA and Bank of America Corp. as advisers to help fend off a possible takeover offer by rival luxury-goods maker LVMH Moet Hennessy Louis Vuitton SA. The banks were engaged to help repel a potential takeover by LVMH, Christel Denef, a spokeswoman for Hermes, said today in an e-mailed response to questions from Bloomberg News. An LVMH spokesman couldn’t immediately be reached for comment. LVMH, the world’s largest luxury-goods maker, said last month it may buy more Hermes shares after building up a 17.1 percent stake via equity swaps. LVMH has said it doesn’t intend to seek a board seat or control of its Paris-based rival. The Hermes spokeswoman declined to comment on a report in yesterday’s Le Journal du Dimanche that the Birkin bag maker’s family shareholders, who hold 73.4 percent of the 173-year-old company, will meet Dec. 3 to discuss how they can keep control. Hermes fell 60 cents, or 0.4 percent, to 142 euros in Paris trading today, giving the company a market value of 15 billion euros ($19.7 billion).