Capri and Tapestry called off their merger on Thursday after the megadeal was blocked by the Federal Trade Commission. The two U.S.-based luxury houses “mutually agreed” that terminating the merger was in their best interests as they were unlikely to get regulatory approval before the deal was set to expire in February.

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Reuters

United Kingdom

Coach parent Tapestry terminates $8.5 billion deal for Capri

Tapestry said on Thursday it was ending its $8.5 billion bid for Michael Kors owner Capri after the deal was blocked by a U.S. judge, ending an effort to create a U.S. luxury giant that would compete with major European players.

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NEW YORK (AP) — Fashion company Tapestry on Thursday said it’s terminating its proposed merger with Capri because the two luxury groups don’t expect to overcome an antitrust challenge within an acceptable time frame. The companies agreed to a $8.5 billion deal in August 2023 that would have united Capri, the maker of Versace, Jimmy […]

Associated Press News

Independent Media

United States

Maker of Coach handbags calls off merger with company that produces Michael Kors accessories - Seymour Tribune

Fashion company Tapestry says it’s terminating its proposed merger with Capri because the two luxury groups don’t expect to overcome an antitrust challenge within an acceptable time frame

abc News

The Walt Disney Company

Maker of Coach handbags calls off merger with company that produces Michael Kors accessories

Fashion company Tapestry on Thursday said it's terminating its proposed merger with Capri because the two luxury groups don't expect to overcome an antitrust challenge within an acceptable time frame.

Washington Times

The Washington Times LLC

NEW YORK (AP) — Fashion company Tapestry says it’s terminating its proposed merger with Capri because the two luxury groups don’t expect to overcome an antitrust challenge within an acceptable time frame. The companies agreed in August 2023 to a $8.5 billion deal that would have united them. Capri makes Versace, Jimmy Choo and Michael Kors shoes, handbags and accessories. Tapestry produces the same products under the Coach, Kate Spade New York, …

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Bonneville County

Idaho

The parent companies behind Coach and Michael Kors saw their proposed merger blocked by the Federal Trade Commission.

CNBC

Roberts family

Capri and Tapestry abandon plans to merge, citing regulatory hurdles

Tapestry is terminating its $8.5 billion deal to buy Michael Kors owner Capri following a legal hurdle, the companies said today, ending their effort to create a US luxury giant to compete with major European players.

RTÉ

Government of Ireland

Ireland

Coach parent Tapestry ends $8.5 billion deal for Capri

Capri Holdings Ltd and Tapestry Inc. have ended an $8.5 billion plan to merge after a US court order freezing the deal due to US antitrust regulators’ objections.

Bloomberg

Michael Bloomberg

The Vanguard Group

Howard Buffett

BlackRock

Capri and Tapestry End Merger Plan After FTC Wins Blocking Order

Fashion companies Capri Holdings Limited and Tapestry -- parent companies behind the Coach and Michael Kors brands -- ended their $8.5 billion merger deal Thursday. The deal was blocked by the Federal Trade Commission.

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Washington

District of Columbia

Capri and Tapestry end their $8.5 billion merger after FTC blocked it

NEW YORK (AP) — Fashion company Tapestry on Thursday said it’s terminating its proposed merger with Capri because the two luxury groups don’t expect to overcome an antitrust challenge within an acceptable time frame. The companies agreed to a $8.5 billion deal in August 2023 that would have united Capri, the maker of Versace, Jimmy Choo and Michael Kors shoes, handbags and accessories, with Tapestry, which produces the same products under the Co…

Capri and Tapestry abandon plans to merge, citing regulatory hurdles

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