Capri terminates Tapestry merger citing regulatory hurdles [FOX Business Network]
Capri Holdings Limited Ordinary Shares (CPRI)
Last capri holdings limited ordinary shares earnings: 2/5 06:30 am
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Source: FOX Business Network
The luxury fashion brand merger between Capri and Tapestry is officially off, as the two companies announced Thursday that they will abandon the merger because they were unlikely to gain regulatory approval. The proposed $8.5 billion merger was first announced in August 2023 but has faced scrutiny from the Federal Trade Commission (FTC) , which sued to block the deal earlier this year over concerns it would undermine competition in the luxury handbag and accessories space. In late October, a federal judge blocked the merger citing competition issues raised by the proposed merger. U.S. District Judge Jennifer Rochon said that the companies' defense of the deal hinged on an argument that handbags are nonessential goods that are price-sensitive to consumer preferences, which she said "ignores that handbags are important to many women, not only to express themselves through fashion but to aid in their daily lives." Had the merger proceeded, it would've united Tapestry's Coach, Kate
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CPRI
News
- Secrets Of Jet-Set Style And Insider Destinations In Italy [Forbes]Forbes
- Capri Holdings Limited (NYSE: CPRI) had its "equal weight" rating re-affirmed by analysts at Barclays PLC. They now have a $21.00 price target on the stock.MarketBeat
- Capri Holdings Limited (NYSE: CPRI) had its price target lowered by analysts at TD Cowen from $57.00 to $22.00. They now have a "hold" rating on the stock.MarketBeat
- Tapestry Made The Right Decision To Go It Alone Without Capri Dragging It Down [Forbes]Forbes
- Tapestry Confirms End of Merger Deal With Capri Holdings [Yahoo! Finance]Yahoo! Finance
CPRI
Earnings
- 11/7/24 - Miss
CPRI
Sec Filings
- 11/14/24 - Form 8-K
- 11/7/24 - Form 10-Q
- 11/7/24 - Form 8-K
- CPRI's page on the SEC website