US EditionUS court blocks Tapestry's $8.5 billion acquisition of rival Capri
- A U.S. District judge blocked Tapestry's $8.5 billion acquisition of Capri, stating it would reduce competition and hurt consumers.
- The ruling noted Tapestry Inc. and Capri Holdings are "close competitors" and that the merger would raise prices for shoppers.
- Tapestry called the court's decision "disappointing" and said it infringes on their growth plans.
49 Articles
49 Articles
Michael Kors Parent Craters On Blocked $8.5 Billion Merger
Shares of Michael Kors parent Capri unraveled early Friday after a judge blocked its $8.5 billion merger with Coach owner Tapestry. The post Michael Kors Parent Craters On Blocked Merger With Tapestry appeared first on Investor's Business Daily.
The bag brand Coach was supposed to change companies. A US judge has now put the billion-dollar deal on hold. She fears higher prices on the market for "affordable luxury bags."
US court blocks Coach owner's $8.5B buyout of Versace parent
New York, United States — A US judge on Thursday blocked fashion group Tapestry’s $8.5 billion deal to buy Capri, which owns luxury brands including Michael Kors and Versace, citing a potential loss of competition. The deal, seen as an attempt to create a new global fashion giant to compete with European powerhouses, was halted
Versace's parent company stock plunged 45% after an affordable-luxury deal was blocked in court
A display window at a Versace clothing store on Fifth Avenue in New York City.Robert Alexander/Getty ImagesA judge has granted a preliminary injunction to halt the merger between Tapestry and Capri Holdings.The two companies planned to have multiple luxury brands — including Versace — operating under one umbrella.Following the ruling, on Thursday, Capri's stock plunged 45% in after-hours trading.Versace's parent company, Capri Holdings, suffered…
US court blocks Coach owner's US$8.5 bn buyout of Versace parent
NEW YORK: A US judge on Thursday blocked fashion group Tapestry’s US$8.5 billion deal to buy Capri, which owns luxury brands including Michael Kors and Versace, citing a potential loss of competition. © New Straits Times Press (M) Bhd
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