News Formal

Judge blocks $8.5B merger of luxe brands Coach, Michael Kors in shock setback

  • 📰 nypost
  • ⏱ Reading Time:
  • 26 sec. here
  • 6 min. at publisher
  • 📊 Quality Score:
  • News: 28%
  • Publisher: 67%

Business Nyheter

Coach,Ftc,Mergers & Acquisitions

The companies argued the deal was needed to fight back against European players like Gucci, which are increasingly grabbing market share.

of handbag and accessories maker Tapestry and Capri on Thursday, a victory for the Federal Trade Commission in an industry where merger challenges are rare.

The ruling in effect permanently blocks the proposed deal, Tapestry’s lawyers said in court documents. There is scant precedent for merger challenges in the fashion industry, which tends to be too fragmented and competitive to foster traditional monopolies.Taco Bell, Pizza Hut, KFC yanking key ingredient after McDonald's E.coli outbreakThe decision is a win for the Biden administration ahead of the Nov. 5 presidential election, in which rising consumer prices have figured as a key issue.

 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.
Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 91. in SE

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

Judge blocks Coach owner Tapestry's proposed acquisition of Michael Kors parent CapriThe owners of Coach and Michael Kors, Tapestry and Capri, saw their proposed merger blocked after the FTC sued to stop the deal.
Källa: NBCLA - 🏆 319. / 59 Läs mer »

FTC seeks to block Kate Spade, Michael Kors mergerThe FTC may block a planned merger between the luxury brands.
Källa: ABC - 🏆 471. / 51 Läs mer »

FTC seeks to block Kate Spade, Michael Kors mergerThe Federal Trade Commission is asking a federal judge in New York to block the $8.5 billion merger of Tapestry, the company behind Coach, Kate Spade, and Capri, which controls Michael Kors.
Källa: 6abc - 🏆 250. / 63 Läs mer »