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Tapestry stock price reaction to FTC lawsuit outcome
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Stock price rises • 50%
Stock price falls • 50%
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FTC Sues to Block Tapestry's $8.5 Billion Capri Deal, Citing Competition Concerns
Apr 22, 2024, 09:07 PM
The U.S. Federal Trade Commission (FTC) has initiated legal action to block Tapestry Inc.'s proposed $8.5 billion acquisition of Capri Holdings Ltd., which owns luxury brands like Michael Kors and Jimmy Choo. Filed on Monday, the lawsuit by the FTC argues that the merger between Tapestry, the parent company of Coach, Kate Spade, and Stuart Weitzman, and Capri would significantly reduce competition in the luxury goods market, particularly in the 'affordable luxury' sector. This move by the FTC underscores concerns about maintaining competitive market conditions in the luxury fashion industry.
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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%
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%
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%
CBS stock price increases • 50%
CBS stock price decreases • 50%