Coach parent Tapestry pulls $8.5 billion bid for Capri

Coach parent Tapestry pulls $8.5 billion bid for Capri after FTC roadblock
(Reuters) -Tapestry said on Thursday it was terminating its $8.5 billion bid for Michael Kors owner Capri after a legal hurdle last month, ending their effort to create a U.S. luxury giant to compete with major European players.
The Owner of Coach Abandons Its $8.5 Billion Bid to Take Over Versace’s Parent Company
Tapestry, which owns Coach and Kate Spade, and Capri Holdings, which oversees Versace and Michael Kors, have called off their planned merger, The New York Times reported on Thursday. The $8.5 billion deal was announced last year, but the Federal Trade Commission sued to block the merger and a federal judge agreed with the federal agency last month.
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.
Tapestry and Capri Terminate $8.5 Billion USD Merger
After the US Federal Trade Commission halted the sale, stating that it would eliminate direct competition in the mid-tier handbag market.
Tapestry Confirms End of Merger Deal With Capri Holdings
TPR pulls out of the merger with Capri, redirecting efforts toward expanding its business and enhancing shareholder value.
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.
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.
ABC News1d
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 ...
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, ...
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 ...
NBC Washington1d
Capri and Tapestry abandon plans to merge, citing regulatory hurdles
Tapestry and Capri have mutually agreed to call of their merger. The parent companies behind Coach and Michael Kors saw ...
Maker of Coach handbags calls off merger with company that produces Michael Kors...
Fashion company Tapestry on Thursday said it's terminating its proposed merger with Capri because the two luxury groups don't expect to overcome an antitrust challenge within an acceptable time frame.
Tapestry Ends Merger, Focuses on Growth and Buybacks
Tapestry ( (TPR) ) just unveiled an announcement. Tapestry, Inc. announced the termination of its merger agreement with Capri Holdings Limited, ...