TG盗号软件企业定制|【唯一TG:@heimifeng8】|飞机盗号软件VIP破解技术✨谷歌搜索留痕排名,史上最强SEO技术,20年谷歌SEO经验大佬✨Capri shares tumble 46% after US court blocks $8.5 billion merger with Tapestry
Reuters Published
October 25,TG盗号软件企业定制 2025
Shares of Michael Kors owner Capri slumped nearly 46% in premarket trading on Friday after a U.S. judge blocked its pending $8.5 billion merger with handbag maker Tapestry.
Tapestry agreed to buy Capri last year to create a U.S. luxury giant that could compete better with larger European rivals by bringing brands Coach, Kate Spade, Versace, Jimmy Choo and Michael Kors under one roof.
The Federal Trade Commission (FTC) sued to block the deal in April, saying it would eliminate "direct head-to-head competition" between the top two U.S. handbag makers.
Should the deal fall through, "Capri could potentially seek another suitor" as it grapples with execution missteps at Michael Kors, said Dana Telsey of Telsey Advisory Group.
Tapestry's shares rose nearly 13%. Analysts said the deal would have been an added risk to the Coach parent even though it was well-positioned to revive Capri.
During an eight-day trial in September, the FTC argued the deal would create a massive company with the power to unfairly raise prices. U.S. District Judge Jennifer Rochon rejected the companies' defense, including their argument that handbags are non-essential items and consumers can control the prices by not buying them if they become too expensive.
Tapestry believes the ruling was incorrect and plans to appeal, it said on Thursday.
"I think the (defense) parties might try to get an expedited appeal to the second circuit. I think they do have a chance on their timeline to do that," said Mike Keeley, partner and chair of the antitrust group at Axinn, Veltrop & Harkrider LLP.