Here’s what comes next for Tapestry and Capri after the death of their major fashion merger
What would have been the biggest fashion industry merger since the mid-2000s died today after two major luxury brands confirmed that their $8.5 billion deal is off. When it was announced last year, the acquisition of Capri by Tapestry was touted as a way to bring several famous brands under the same roof.
Fashion houses Tapestry and Capri end merger plan as FTC gets a luxury win
The parent companies of brands such as Coach, Kate Spade, Versace and Michael Kors decided not to proceed with a court battle.
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.
Capri, Tapestry Scrap Merger After FTC Blocked Deal
Capri Holdings Ltd and Tapestry Inc. scrapped their $8.5 billion plan to merge after a court order froze the proposed combination of the US fashion companies due to antitrust regulators’ objections.
Capri terminates Tapestry merger citing regulatory hurdles
The proposed merger that would've combined six luxury brands owned by Capri and Tapestry was abandoned by the companies due to regulatory challenges posed by an FTC lawsuit.
Tapestry, Inc. Announces Termination of Merger Agreement With Capri Holdings Limited
Tapestry, Inc. (NYSE: TPR), a house of iconic accessories and lifestyle brands consisting of Coach, Kate Spade, and Stuart Weitzman, today announced that it reached an agreement with Capri Holdings Limited (NYSE: CPRI) to terminate the merger agreement between the parties.
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.
Capri Holdings announces termination of merger with Tapestry
Capri Holdings (CPRI) announced the mutual termination of its definitive merger agreement with Tapestry (TPR). Capri and Tapestry mutually
Star Tribune7h
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