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Capri Holdings Limited (MKO.F)

Frankfurt - Frankfurt Delayed price. Currency in EUR

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35.46

-0.57

(-1.60%)

At close: 08:09AM CEST

News

Barrons.com
FTC Blocks Tapestry, Capri $8.5 Billion Merger. Stocks Dip.
Regulators argue the deal would eliminate competition in the market for less expensive luxury handbags.
Associated Press Finance
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 combined Tapestry and Capri would employ roughly 33,000 people worldwide, the agency said. “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 in a statement.
Bloomberg
FTC Preparing Objections to Tapestry’s Capri Deal, NYT Says
(Bloomberg) -- US regulators are moving to block fashion company Tapestry Inc.’s $8.5 billion planned takeover of Capri Holdings Ltd., the New York Times reported, citing people with knowledge of the matter.Most Read from BloombergDubai Grinds to Standstill as Cloud Seeding Worsens FloodingTesla Asks Investors to Approve Musk’s $56 Billion Pay AgainChina Tells Iran Cooperation Will Last After Attack on IsraelWhat If Fed Rate Hikes Are Actually Sparking US Economic Boom?Red Lobster Considers Bank