Tapestry Confirms End of Merger Deal With Capri Holdings [Yahoo! Finance]
Capri Holdings Limited Ordinary Shares (CPRI)
Last capri holdings limited ordinary shares earnings: 2/5 06:30 am
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Source: Yahoo! Finance
Following the announcement, Tapestry's stock surged 12.8%, reaching $57.81, while Capri Holdings saw a modest decline. Capri stock has dropped nearly 60% in 2024. On Thursday, Tapestry disclosed that legal challenges surrounding its proposed August 2023 merger are uncertain and unlikely to be resolved before the Feb. 10, 2025, deadline. This follows last month's ruling in favor of the Federal Trade Commission (FTC), which opposed the deal, claiming it would lead to decreased competition and consumer price increases. However, the companies mutually agreed to terminate the merger, concluding it was in their best interest given the uncertain outcome of the legal process. Tapestry's management emphasized the company's strong position for future growth following the merger's cancelation. Building on a successful first quarter, the company outlined plans to accelerate organic business growth with speed and boldness. Tapestry announced an enhanced shareholder return program, demonstratin
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CPRI
Earnings
- 11/7/24 - Miss
CPRI
Sec Filings
- 12/18/24 - Form 4
- 12/2/24 - Form 8-K
- 11/14/24 - Form 8-K
- CPRI's page on the SEC website