Published 11 days ago

US FTC sues to block $8.5 bln takeover of Capri by Tapestry

The Federal Trade Commission filed a lawsuit to prevent Tapestry, Inc. From acquiring Capri Holdings Ltd., citing concerns about reduced competition in the luxury handbag market.
The acquisition could stifle employee competition, leading to lower wages and benefits, as per the FTC.
Tapestry aims to solidify its position in the fashion industry by acquiring Capri, according to Henry Liu of the FTC.

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The Guardian

US sues to block Tapestry-Capri $8.5bn merger, citing monopoly concerns

FTC lawsuit to block Coach parent from buying Michael Kors owner says deal would deprive consumers of competitionThe US Federal Trade Commission (FTC) said on Monday it was suing to block Coach parent Tapestry’s $8.5bn deal to buy Michael Kors owner Capri, saying it would eliminate competition.This comes at a time when several US lawmakers have sought increased scrutiny from the FTC of several multi-billion dollar deals that might risk higher pr…

11 days ago·London, United Kingdom

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Reuters

FTC sues to block Coach parent Tapestry’s acquisition of Capri Holdings

11 days ago·United Kingdom

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abc News

Federal Trade Commission sues to block Tapestry's $8.5B acquisition of Capri

The Federal Trade Commission sued to block Tapestry, Inc.’s $8.5 billion acquisition of Capri Holdings Ltd

11 days ago·United States

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CNBC

FTC sues to block Coach parent Tapestry's acquisition of Capri Holdings

11 days ago·United States

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The Straits Times

US sues to block $11.6b merger of Tapestry and Capri, citing handbag market domination

Tapestry owns Coach, among other brands; while Capri controls Michael Kors. Read more at straitstimes.com.

11 days ago·Singapore

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WPLG

Federal Trade Commission sues to block Tapestry's $8.5B acquisition of Capri

The Federal Trade Commission sued to block Tapestry, Inc.’s $8.5 billion acquisition of Capri Holdings Ltd., saying that the deal would eliminate direct head-to-head competition between the fashion companies' brands like Coach and Michael Kors in the so-called affordable luxury handbag arena.The agency also said Monday that the deal, a nnounced in August 2023, threatens to eliminate the incentive for the two companies to vie for employees and co…

11 days ago·Miami, United States

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