Coach owner Tapestry (TPR) is in talks to buy Capri Holdings (CPRI), parent company of Michael Kors, Jimmy Choo, and Versace, Lauren Thomas and Cara Lombardo of The Wall Street Journal report. The deal has been under discussion for months and could be announced as soon as Thursday, people familiar with the matter told the Journal. Capri’s market value is $4B while Tapestry’s is around $10B. The deal could value Capri in the high single-digit billions.
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Read More on TPR:
- Capri Holdings (NYSE: CPRI) Soars after $8.5 Billion Acquisition by Tapestry
- Tapestry (NYSE:TPR) May Scoop Up Capri Holdings, Broaden Horizons
- Capri Holdings price target lowered to $34 from $36 at Jefferies
- Tapestry price target lowered to $50 from $53 at Jefferies
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