Capri and Tapestry end their $8.5 billion merger after FTC blocked it

Nov. 14 (UPI) -- Fashion companies Capri Holdings Limited and Tapestry -- parent companies behind the Coach and Michael Kors brands, respectively -- ended their $8.5 billion merger agreement Thursday. The deal was blocked by a U.S. Federal Trade Commission Lawsuit in April that won a preliminary injunction against it.

Capri and Tapestry said in statements they had mutually agreed to end their merger since the FTC lawsuit would not likely be resolved by the merger agreement outside the end date of Feb. 10, 2025.

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