Capri terminates Tapestry merger citing regulatory hurdles

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 , which sued to block the deal earlier this year over concerns it would undermine competition in the luxury handbag and accessories space.

Capri CEO John D. Idol said in a statement on Thursday, "With the termination of the merger agreement, we are now focusing on the future of Capri and our three iconic luxury houses." "Given our company's performance over the past 18 months, we have recently started to implement a number of strategic initiatives to return our luxury houses to growth.

Switzerland Neuesten Nachrichten, Switzerland Schlagzeilen

Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.

FTC Blocks Tapestry’s $8.5B Acquisition of CapriThe government’s court victory pauses the deal, which was set to put Michael Kors, Coach and Kate Spade under the same corporate umbrella.
Herkunft: wwd - 🏆 24. / 68 Weiterlesen »

Tapestry and Capri Terminate $8.5B Merger AgreementTapestry is now buying back more of its own stock while Capri is looking to revamp with Michael Kors store closures and more marketing.
Herkunft: wwd - 🏆 24. / 68 Weiterlesen »

Stocks making the biggest moves midday: Tapestry, Capri, Disney and moreThese are the stocks posting the largest moves in midday trading.
Herkunft: CNBC - 🏆 12. / 72 Weiterlesen »