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In April, the Federal Trade Commission filed a lawsuit aiming to halt Tapestry’s $8.5 billion purchase of Capri Holdings. Buyback: Tapestry’s Board of Directors approved a $2 billion share ...
Tapestry and Capri filed a notice to jointly appeal the decision, but Tapestry said Thursday the outcome of the legal process is “uncertain and unlikely to be resolved by the February 10, 2025 ...
Related: Tapestry And Capri Call Off $8.5B Deal Amid L ... What's Going On With Tapestry Stock Today? Nabaparna Bhattacharya. ... The final settlement is expected by the first quarter of fiscal ...
The combined Tapestry and Capri would employ roughly 33,000 people worldwide, the agency said. The two companies' brands cover a wide array of items from clothing to eyewear to shoes. Tapestry has been on an acquisition binge for the past several years, and already owns Kate Spade New York, Stuart Weitzman and Coach.
The combined Tapestry and Capri would employ roughly 33,000 people worldwide, the agency said. “With the goal to become a serial acquirer, Tapestry seeks to acquire Capri to further entrench its stronghold in the fashion industry,” said Henry Liu, director of the FTC’s bureau of competition in a statement.
The decision will ensure that Tapestry and Capri continue to engage in head-to-head competition to the benefit of the American public." A Coach bag is seen on display at a store on Sept. 13, 2024 ...
The government's blocking of the deal with Capri could be the best thing for Tapestry. The company will have to pay Capri up to $50 million if the deal is rejected, but that's a small price to pay.
Tapestry and Capri each had their reasons for wanting to join forces. For Tapestry, which gets 76% of its revenue from Coach, a mature brand, the goal of the merger was to find new sources of growth.