- Start
- Nov 13, 202490% CONFIDENCEfrom the source
Tapestry and Capri Holdings Terminate Their $8.5 Billion Merger Agreement
- Tapestry and Capri Holdings entered a Termination Agreement on 13 November 2024, ending their proposed $8.5 billion merger 'effective immediately', per Tapestry's SEC filing[1]
- Tapestry agreed to reimburse Capri $45,088,675 in expenses, paid the following day, with no break fee under the deal[1]
- The parties released each other from claims related to the merger agreement, and Tapestry's related term loan agreement was terminated at the same time[1]
- CEO Joanne Crevoiserat said the legal process was 'uncertain and unlikely to be resolved' before the agreement's 10 February 2025 outside date[2]
- The termination followed the FTC's 24 October 2024 court win, which had already sent Capri's stock plunging and Tapestry's higher[3]
References 386% CONFIDENCE
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- [1]90%sec.gov/Archives/edgar/data/1116132/000114036124046713/ef20038690_8k.htmsec.gov· Posted Sep 25, 2026· Starts Nov 13, 2024 ✓· 48% of score
Tapestry's SEC 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.'
- [2]82%FTC v. Tapestry: A Case Over M&A in the Accessible Luxury Marketthefashionlaw.com· Added Sep 25, 2026· 48% of score
Timeline entry quoting Tapestry CEO Joanne Crevoiserat that 'the outcome of the legal process is uncertain and unlikely to be resolved by the February 10, 2025 outside date.'[1]
- [3]88%Capri and Tapestry abandon plans to merge, citing regulatory hurdlescnbc.com· Published Nov 14, 2024· 4% of score
Reports the parties 'mutually agreed' to terminate given the FTC's court win, published the day the termination became public.[1]
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