Judge blocks Coach owner Tapestry's proposed acquisition of Michael Kors parent Capri
Publishing timestamp: 2024-10-24 20:13:35
Summary
A federal court judge has blocked the proposed merger between Tapestry-owned Coach and Capri parent Michael Kors. The judge's reasoning was not immediately clear, but the FTC had argued that the merger would harm consumers. Tapestry and Capri announced an $8.5 billion merger last year, but the deal has been stalled after the FTC sued to block it. Tapestry's stock surged while Capri's plunged after the order was filed. Tapestry plans to appeal the decision.
Sentiment: MIXED
Keywords: capri holdings ltd, business news, politics, breaking news: business, breaking news: politics, tapestry inc, new york,