LVMH v. Gucci
This article was originally published in The Rose Sheet
Executive Summary
PPR should be ordered to make a public offer for all Gucci shares, according to a lawsuit filed by LVMH in Amsterdam district court March 14. The filing is connected to another suit asking for the annulment of the March 1999 merger between Pinault-Printemps-Redoute and Gucci (1"The Rose Sheet" March 29, 1999, p. 3). Amsterdam appeals court ruled against an LVMH request for an investigation into the deal last May, but found Gucci's employee stock ownership plan invalid, a ruling upon which LVMH is basing its most recent lawsuit. In response, Gucci says the suit adds no new information to the original claims and is merely an "attempt to detract from Gucci's anticipated results"