Tapestry and Capri End Plans for ‘Accessible Luxury’ Merger
Tapestry, the owner of Coach, said it would abandon its $8.5 billion deal to buy Capri, the parent company of Michael Kors, after the Federal Trade Commission successfully sued to stop the transaction.
Coach Parent Tapestry Stock Soars, Capri Falls as Brands Call Off Merger
Shares of Coach and Kate Spade parent Tapestry jumped Thursday morning while those of Michael Kors and Versace owner Capri Holdings fell after they called off their planned merger over ongoing legal challenges.
Capri and Tapestry end their $8.5 billion merger after FTC blocked it
Fashion companies Capri Holdings Limited and Tapestry -- parent companies behind the Coach and Michael Kors brands -- ended their $8.5 billion merger deal Thursday. The deal was blocked by the Federal Trade Commission.
Coach Owner Tapestry Calls Off Capri Bid On Regulatory Blocks
Fashion group Tapestry said Thursday that it was dropping its $8.5 billion bid for Capri, the owner of luxury brands including Michael Kors and Versace, following a successful legal challenge by US regulators.
Coach parent Tapestry pulls $8.5 billion bid for Capri after FTC roadblock
Tapestry is terminating its $8.5 billion deal to buy Michael Kors owner Capri following a legal hurdle, the companies said on Thursday, ending their effort to create a U.S. luxury giant to compete with major European players.
Coach parent Tapestry terminates $8.5 billion deal for Capri
The deal would have brought six brands under one roof - Tapestry's Coach, Kate Spade and Stuart Weitzman; and Capri's Versace, Jimmy Choo and Michael Kors. But regulators sued to block the deal earlier this year, citing anti-competition concerns.
Tapestry’s stock pops and Capri falls as fashion giants scrap merger deal
Tapestry Inc.’ stock jumped 6.8% early Thursday, while Capri Holdings Inc.’s stock fell about 4%, after Tapestry said it’s terminating its $8.5 billion merger agreement with its smaller rival.
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Maker of Coach handbags calls off merger with company that produces Michael Kors accessories
The companies agreed to a $8.5 billion deal in August 2023 that would have united Capri, the maker of Versace, Jimmy Choo and ...
Coach-Michael Kors Deal Blocked by Judge
A federal judge blocked Tapestry from closing its acquisition of rival Capri, dealing a blow to their ambitions to create a ...
New York Post21d
Judge blocks $8.5B merger of luxe brands Coach, Michael Kors in shock setback
A US judge blocked the pending $8.5 billion merger of handbag and accessories maker Tapestry and Capri on Thursday, a victory for the Federal Trade Commission that is a likely death blow for ...
Michael Kors owner’s stock craters after judge blocks $8.5B merger of top US handbag makers
Capri, the parent company of fashion brands Michael Kors and Jimmy Choo, saw its stock tank by more than 50% in pre-market ...
CBS News21d
Makers of Coach and Michael Kors handbags blocked from merger in antitrust case
A U.S. District judge has halted the merger between the makers of Coach and Michael Kors handbags, saying it would reduce competition and hurt consumers. In her ruling Thursday, U.S. District ...