Loading...
Market
Market reaction to FTC decision on Coach-Michael Kors merger by end of 2024
5
Resolution / Starting Odds
Significant drop in Capri Holdings stock • 25%
Significant drop in Tapestry Inc. stock • 25%
Increase in both stocks • 25%
Minimal impact on both stocks • 25%
Stock market data and financial news reports
Story
FTC Sues to Block $8.5 Billion Merger of Coach, Michael Kors on Monday
Apr 22, 2024, 10:22 PM
On Monday, the U.S. Federal Trade Commission (FTC) filed a lawsuit to block Tapestry Inc., the parent company of Coach and Kate Spade, from acquiring Capri Holdings Ltd., which owns luxury brands such as Michael Kors and Jimmy Choo. The FTC argues that the $8.5 billion deal would significantly reduce competition in the 'affordable luxury' handbag market, potentially leading to higher prices and less choice for consumers. This move is part of the Biden administration's broader strategy of aggressive antitrust enforcement, marking a significant intervention in the fashion accessories sector. In response, Tapestry criticized the FTC, stating that the agency is 'clueless'.
View original story
Similar markets
Stocks of both companies rise • 25%
Stocks of both companies fall • 25%
Mixed response (one rises, one falls) • 25%
No significant change in stock prices • 25%
Market Share Increase for Combined Entity • 25%
Market Share Decrease for Combined Entity • 25%
No Significant Change in Market Share • 25%
Other Competitors Gain Market Share • 25%
FTC wins • 33%
Merger proceeds with conditions • 33%
Merger proceeds without conditions • 34%
FTC blocks the merger • 33%
Merger proceeds with conditions • 34%
Merger proceeds without conditions • 33%
Merger Blocked Permanently • 33%
Merger Allowed with Conditions • 33%
Merger Allowed without Conditions • 33%
Leadership change in Tapestry • 25%
Leadership change in Capri • 25%
Leadership changes in both companies • 25%
No leadership changes in either company • 25%
Lawsuit successful • 50%
Lawsuit unsuccessful • 50%
Resolved by end of 2024 • 33%
Resolved by mid-2025 • 33%
Not resolved by mid-2025 • 34%