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Stock impact report

The Owner of Coach Abandons Its $8.5 Billion Bid to Take Over Versace's Parent Company [Yahoo! Finance]

Capri Holdings Limited Ordinary Shares (CPRI) 
Last capri holdings limited ordinary shares earnings: 2/5 06:30 am Check Earnings Report
Company Research Source: Yahoo! Finance
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. More from Robb Report A Judge Just Blocked the $8.5 Billion Merger of Coach and Versace's Parent Companies Selena Gomez's Popular Rare Beauty Line Has Officially Made Her a Billionaire Cillian Murphy Is Now the Face of Versace Menswear Tapestry and Capri “mutually agreed that terminating the merger agreement was in the best interests of both companies,” the two companies said, according to the Times . The move suggests that neither party believed an appeal would result in an eventual merger, the newspaper said. After the two companies announced the acquisition plan, the FTC worried that a merger would run into antitrust issues, Show less Read more
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