The Owner of Coach Abandons Its $8.5 Billion Bid to Take Over Versace’s Parent Company
Tapestry, which owns Coach and Kate Spade, and Capri Holdings, which oversees Versace and Michael Kors, have called off their planned merger, The New York Times reported on Thursday. The $8.5 billion deal was announced last year, but the Federal Trade Commission sued to block the merger and a federal judge agreed with the federal agency last month.
Coach Owner Tapestry Calls Off Capri Bid On Regulatory Blocks
Fashion group Tapestry said Thursday that it was dropping its $8.5 billion bid for Capri, the owner of luxury brands including Michael Kors and Versace, following a successful legal challenge by US regulators.
Versace Parent Capri Stock Tumbles as Judge Blocks Merger With Coach Owner
Capri Holdings shares are plummeting nearly 50% in premarket trading Friday after a federal judge blocked Coach owner Tapestry's $8.5 billion acquisition of the Versace and Michael Kors parent.
US court blocks Coach owner's $8.5 bn buyout of Versace parent
A US judge on Thursday blocked fashion group Tapestry's $8.5 billion deal to buy Capri, which owns luxury brands including Michael Kors and Versace, citing a potential loss of competition. Tapestry owns brands including Coach and Kate Spade.
Coach parent Tapestry pulls $8.5 billion bid for Capri after FTC roadblock
Tapestry is terminating its $8.5 billion deal to buy Michael Kors-owner Capri following a legal hurdle, the companies said on Thursday, ending their effort to create a U.S. luxury giant to compete with major European players.
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The owner of Versace and Jimmy Choo just lost half its value in 24 hours—and Wall Street ended its 6-week winning streak
But luxury brand owner Capri Holdings, the owner of Jimmy Choo, Versace, and Michael Kors, was down more than 48%, adding fresh uncertainty to the company’s outlook. Rising Treasury yields also ...
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Tapestry and Capri mutually agree to terminate $8.5bn merger
This decision to abandon the merger plans comes after a US district judge Jennifer Rochon stalled the prospective $8.5bn deal ...
Tapestry and Capri End Plans for ‘Accessible Luxury’ Merger
Tapestry, the owner of Coach, said it would abandon its $8.5 billion deal to buy Capri, the parent company of Michael Kors, ...