Capri Holdings Limited Aktie News

When the Federal Trade Commission on Monday sued to block Tapestry Inc.'s acquisition of Capri Holdings, the agency said it was trying to keep handbags made by brands like Coach, Kate Spade and Michael Kors affordable to middle-income shoppers.

The planned merger of fashion groups Tapestry Inc (NYSE:TPR), which owns Kate Spade and Coach, and Capri Holdings, which owns Michael Kors, Versace and Jimmy Choo, has been blocked by the US antitrust watchdog.  Tapestry's $8.5 billion deal to buy Capri, agreed last August, was blocked by the Federal Trade Commission as it said the Coach, Kate Spade and Michael Kors brands are close competitors.

Tapestry had offered to buy Capri in August, hoping to create a US fashion behemoth that could effectively battle bigger European rivals such as Louis Vuitton parent LVMH.

FTC lawsuit to block Coach parent from buying Michael Kors owner says deal would deprive consumers of competition

LONDON--(BUSINESS WIRE)--Capri Holdings Limited (NYSE:CPRI), a global fashion luxury group, today issued the following statement in response to the U.S. Federal Trade Commission's (FTC) unprecedented challenge to the proposed acquisition of Capri by Tapestry, Inc. (NYSE: TPR): “Capri Holdings strongly disagrees with the FTC's decision. The market realities, which the government's challenge igno...

The Federal Trade Commission on Monday sued to block Tapestry Inc.'s TPR, -0.76% $8.5 billion acquisition of Capri Holdings CPRI, -1.48%, arguing that a deal would reduce competition and allow Tapestry to dominate the so-called “accessible luxury” handbag market. Shares of Capri were down 0.2% after hours, while Tapestry was up 0.3%.

NEW YORK--(BUSINESS WIRE)--Tapestry, Inc. (NYSE: TPR), a house of iconic accessories and lifestyle brands consisting of Coach, Kate Spade, and Stuart Weitzman, today issued the following statement in response to the Federal Trade Commission's (FTC) attempt to block its proposed acquisition of Capri Holdings Limited (NYSE: CPRI), a global luxury fashion group consisting of Versace, Jimmy Choo, a...

The U.S. Federal Trade Commission on Monday sued to block Coach parent Tapestry's $8.5 billion deal to buy Michael Kors owner Capri , saying it would eliminate "direct head-to-head competition" between the flagship brands of the two luxury handbag makers.