Tapestry and Capri Holdings Terminate Their $8.5 Billion Merger Agreement
10 Hudson Yards, West 30th Street, Chelsea District, Manhattan Community Board 4, Manhattan, New York County, New York, 10199, United States
Tapestry
CONFIRMEDDate confidence: CONFIRMEDStated as firmHow firmly the source words the date: confirmed, scheduled, estimated, delayed or unverified.Show all CONFIRMED pins86% CONFIDENCEOverall confidence: 86%How well the pin's source and references back up its dates.Weighted average of how firmly 3 references, the source included, support the pin's start and end times; a reference counts half as much for every 180 days older than the newestShow all pins at 75% confidence or betterTapestry's SEC[1] filing states 'On November 13, 2024, the Parties entered into a Termination Agreement ... pursuant to which the Parties agreed that the Merger Agreement ... was terminated ... effective immediately.'
Tapestry and Capri Holdings scrapped their planned merger after the FTC's court win, with Tapestry agreeing to reimburse Capri $45.1 million in expenses rather than keep fighting past the deal's outside date.
$45.1M