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, after the Federal Trade Commission successfully sued to stop the transaction.
Fashion houses Tapestry and Capri end merger plan as FTC gets a luxury win
The parent companies of brands such as Coach, Kate Spade, Versace and Michael Kors decided not to proceed with a court battle.
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 last month. The merger, initially announced in August
Tapestry and Capri Terminate $8.5 Billion USD Merger
After the US Federal Trade Commission halted the sale, stating that it would eliminate direct competition in the mid-tier handbag market.
Capri and Tapestry abandon plans to merge, citing regulatory hurdles
"With the termination of the merger agreement, we are now focusing on the ... Kate Spade and Stuart Weitzman with Capri's Versace, Jimmy Choo and Michael Kors. In April, the FTC sued to block the deal, saying the tie-up would disadvantage consumers ...
Capri terminates Tapestry merger citing regulatory hurdles
The proposed merger that would've combined six luxury brands owned by Capri and Tapestry was abandoned by the companies due to regulatory challenges posed by an FTC lawsuit.
Capri Holdings Announces Termination of Merger With Tapestry
Capri Holdings Limited (NYSE:CPRI), a global fashion luxury group, today announced the mutual termination of its definitive merger agreement with Tapestry, Inc. Capri and Tapestry mutually agreed that terminating the merger agreement was in the best interests of both companies as the required closing condition of receiving necessary U.
Capri, Tapestry Scrap $8.5 Billion Merger, Ciring Regulatory Hurdles Following FTC Intervention
Capri Holdings and Tapestry mutually agreed to terminate their planned $8.5 billion merger following an FTC lawsuit that blocked the deal. The acquisition aimed to merge six luxury brands under one U.
Tapestry, Capri Terminate $8.5 Billion Merger Agreement Amid Regulatory Hurdles
Tapestry (TPR) terminated its proposed acquisition of Michael Kors and Versace parent Capri (CPRI) due to uncertainty regarding regulatory approvals, the companies said in separate Thursday statements.
Tapestry halts Capri merger efforts, shares pop
Capri Holdings Ltd (NYSE:CPRI) and Coach owner Tapestry (NYSE:TPR) canceled their merger on Thursday after the Federal Trade Commission (FTC) blocked the proposed deal. The news sent Tapestry shares rising around 5% in premarket trading,
Maker of Coach handbags calls off merger with company that produces Michael Kors accessories
Fashion company Tapestry says it's terminating its proposed merger with Capri because the two luxury groups don't expect to ...
The Owner of Coach Abandons Its $8.5 Billion Bid to Take Over Versace’s Parent Company
Tapestry and Capri Holdings have called off their $8.5 billion merger. Tapestry owns brands like Coach and Kate Spade, while ...
Coach Parent Tapestry Stock Soars, Capri Falls as Brands Call Off Merger
Shares of Coach and Kate Spade parent Tapestry jumped Thursday morning while those of Michael Kors and Versace owner Capri ...
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Coming undone: Balance restored in luxury category as Tapestry and Capri call off merger
To the surprise of no one, Tapestry (NYSE:TPR) has walked away from a potential merger with its struggling competitor Capri ...
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Michael Kors owner’s stock craters after judge blocks $8.5B merger of top US handbag makers
US District Judge Jennifer Rochon struck down the merger that would have seen the two American luxury giants combine to bring Coach, Kate Spade, Versace, Jimmy Choo and Michael Kors under one ...