A federal judge on Thursday blocked the pending merger of Tapestry and Capri on the grounds that the luxury handbag and accessories makers would undermine competition. The proposed $8.5 billion merger between Tapestry and Capri was first proposed in August 2023 but faced scrutiny from the Federal Trade Commission , which sued to block the deal earlier this year.
" FTC MAY TRY TO BLOCK YET ANOTHER BUSINESS MERGER Tapestry argued that the judge's ruling effectively blocks the merger by requiring an additional lengthy review by the FTC that would extend beyond the merger's termination date of Feb. 10. Rochon said the companies are free to defend the deal in the FTC's process and are not required to abandon the deal if it hasn't closed by that date.
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