US Sues to Block $8.5 Billion Marriage of Coach, Michael Kors
by Bloomberg.com
Bloomberg.com— The US Federal Trade Commission sued to stop Tapestry Inc.'s $8.5 billion takeover of rival Capri Holdings Ltd., marking the first time the...
CBS News—FTC sues to block $8.5 billion merger of Coach and Michael Kors owners. The Federal Trade Commission is suing to block Tapestry's $8.5 billion acquisition of Capri Holdings, saying the deal would harm consumers by reducing competition and raising prices in the affordable luxury sector.Monday's federal court filing by the FTC challenges the proposed deal that would have one company controlling six fashion brands: Tapestry's Coach, Kate Spade and Stuart Weitzman and Capri's Michael Kors, Versace and Jimmy Choo.The acquisition could have a negative impact on the...
WSJ—FTC Blocks $8.5 Billion Deal Uniting Coach, Michael Kors. The antitrust regulator says Tapestry’s purchase of Capri Holdings hurts competition among affordable luxury handbag sellers; Companies vow to defend merger.
BBC News—Coach: US sues to block its parent merger with Michael Kors owner. The US competition watchdog has taken legal action to stop Tapestry's merger with rival Capri.