TPR - Why Capri Holdings And Tapestry Shares Are Falling Today | Benzinga
Capri Holdings Limited (NYSE:CPRI) shares are trading lower on Tuesday, together with Tapestry, Inc. (NYSE:TPR).
The Federal Trade Commission filed a lawsuit aiming to halt Tapestry’s $8.5 billion purchase of Capri Holdings.
The acquisition seeks to combine three close competitors – Tapestry’s Coach and Kate Spade brands and Capri’s Michael Kors brand, per the FTC.
“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. “This deal threatens ...