News Formal

Federal judge blocks luxury brand merger between Tapestry and Capri

  • 📰 FoxBusiness
  • ⏱ Reading Time:
  • 21 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 53%

Sverige Nyheter Nyheter

Sverige Senaste nytt,Sverige Rubriker

A federal judge issued a ruling blocking the pending merger of luxury fashion brands Tapestry and Capri on the grounds it would undercut competition in the handbag market.

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.

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:

 /  🏆 458. in SE
 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.

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 »

Capri plunges after US Judge blocks $8.5B merger deal with TapestryCapri plunges after US Judge blocks $8.5B merger deal with Tapestry
Källa: Investingcom - 🏆 450. / 53 Läs mer »

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.
Källa: wwd - 🏆 24. / 68 Läs mer »

Stocks making the biggest moves midday: Tapestry, Capri, L3Harris Technologies and moreThese are the stocks posting the largest moves in midday trading.
Källa: CNBC - 🏆 12. / 72 Läs mer »

Earnings ahead, Tapestry-Capri deal blocked - what's moving marketsEarnings ahead, Tapestry-Capri deal blocked - what's moving markets
Källa: Investingcom - 🏆 450. / 53 Läs mer »