FTC Sues to Block Tapestry's $8.5 Billion Acquisition of Capri Holdings
Federal Trade Commission, 600, Pennsylvania Avenue Northwest, Ward 2, Washington, District of Columbia, 20580, United States
Federal Trade Commission
CONFIRMED86% CONFIDENCEThe FTC's[1] press release states 'The Federal Trade Commission today sued to block Tapestry, Inc.'s $8.5 billion acquisition of Capri Holdings Limited'; CNBC's[3] contemporaneous report is timestamped April 22, 2024.
The FTC filed suit in federal court and issued an administrative complaint to stop Tapestry, owner of Coach and Kate Spade, from buying Capri Holdings' Michael Kors, arguing the deal would eliminate head-to-head competition in accessible-luxury handbags.
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