LVMH
This article was originally published in The Rose Sheet
Executive Summary
Moet Hennessy Louis Vuitton discontinues preliminary talks with Sanofi on possible acquisition of its beauty division, the Paris-based luxury goods group announced. Discussions between the two firms revealed difficulties in integrating certain Sanofi brands with its prestige perfume division and, as a result," expected synergies" could not be obtained. In related news, Sanofi says it is under no obligation to sell the business. However, a financial press report says Sanofi and its adviser Lazard Freres plan to hold a global auction with sealed bids for the Beaute division brands which include Yves Saint Laurent, Oscar de la Renta and Yves Rocher