The Federal Trade Commission sued to block Tapestry, Inc.’s $8.5 billion acquisition of Capri Holdings Ltd.
FILE - The Federal Trade Commission building is seen, Jan. 28, 2015, in Washington. 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.
Specifically, Tapestry’s Coach and Kate Spade brands and Capri’s Michael Kors brand are close rivals in the handbag market. The FTC said that they continuously monitor each other’s handbag brands to determine pricing and performance, and they each use that information to make strategic decisions, including whether to raise or reduce handbag prices.
Capri said it intends to “vigorously defend this case in court alongside Tapestry and complete the pending acquisition.” It said the U.S. FTC is the only regulator that hasn't approved the transaction.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Federal Trade Commission sues to block Tapestry's $8.5B acquisition of CapriThe Federal Trade Commission sued to block Tapestry, Inc.’s $8.5 billion acquisition of Capri Holdings Ltd.
Read more »
Federal Trade Commission sues to block Tapestry's $8.5B acquisition of CapriThe 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.
Read more »
Alaska delegation recommends AFN president as co-chair of federal Denali CommissionThe recommendation comes after Alaska Federation of Natives President Julie Kitka said she plans to step down sometime this year from her longtime leadership of the group.
Read more »
Houston crime: Man pleads guilty to assault of federal officer after damaging federal courthouseA 37-year-old Houston resident pleaded guilty to assaulting a federal officer after damaging two downtown buildings with a metal pole, facing up to 20 years in federal prison, as announced by U.S. Attorney Alamdar S. Hamdani.
Read more »
NFL Trade Rumors: Zach Wilson's Trade Market Waning Due to Contract, NeedNew York Jets quarterback Zach Wilson reportedly has no value in the trade market.
Read more »
Federal officials accuse Sheetz of discrimination in federal lawsuitA convenience store chain where President Joe Biden stopped for snacks this week while campaigning in Pennsylvania has been hit with a lawsuit by federal offici
Read more »