Tapestry (TPR) noted that on April 22, the Federal Trade Commission filed a lawsuit in an attempt to block the proposed acquisition of Capri Holdings (CPRI). Tapestry said “the company is confident in the merits and pro-competitive, pro-consumer nature of this transaction and looks forward to presenting its strong legal arguments in court, working expeditiously to close the transaction in calendar year 2024.”
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on TPR:
- TPR Earnings Report this Week: Is It a Buy, Ahead of Earnings?
- Bloomberg survey shows Capri could fall to low $20s if buyout fails
- Tapestry Faces FTC Challenge Over Capri Holdings Merger
- FTC moves to block Tapestry’s acquisition of Capri Holdings
- Capri ‘strongly disagrees’ with FTC’s decision to block Tapestry deal