CPRI - FTC As The Final Hurdle In Tapestry's Acquisition Of Capri Holdings
2024-04-16 12:26:44 ET
Summary
- Tapestry is acquiring Capri Holdings Limited at $57 per share, with potential upside of $17 if the deal goes through.
- The FTC is expected to vote on the transaction this month, but it is uncertain whether they will sue to block the deal.
- Luxury M&A deals are typically not blocked, and regulatory authorities in China, the European Commission, and Japan have already approved the deal.
Tapestry, Inc. ( TPR ) is buying Capri Holdings Limited ( CPRI ) supposedly at $57 per share. The deal was announced back in August of '23 and has been subjected to a 2nd request by the FTC. I covered the 2nd request here. I've actually consistently argued it was an attractive deal spread, and have been consistently wrong. Here's my record on this stock:
track record on CPRI (Seekingalpha.com)