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Will Tapestry appeal the court's decision blocking Capri acquisition by Dec 31, 2024?
3
Capri Holdings Limited•Federal Trade Commission•Lina Khan•FTC•Tapestry•Coach•Capri•Michael Kors•Versace•Jimmy Choo
Resolution / Starting Odds
Yes • 50%
No • 50%
Official court filings or company press releases
Story
Judge Blocks Coach Owner Tapestry's $8.5 Billion Purchase of Capri, Michael Kors Parent
Oct 24, 2024, 08:16 PM
A federal judge has blocked Tapestry Inc.'s planned $8.5 billion acquisition of Capri Holdings Limited, marking a significant victory for the Federal Trade Commission and its Chair Lina Khan in their efforts to prevent consolidation in the luxury goods market. The court granted the FTC's preliminary injunction, agreeing with the argument that 'accessible-luxury handbags are distinct from mass market and true luxury,' and that the merger would reduce competition in this specific segment. Tapestry, owner of Coach, and Capri, which owns Michael Kors, Versace, and Jimmy Choo, had aimed to combine their brands. Following the ruling, Capri's shares plunged 51% in after-hours trading, while Tapestry's shares rose 14%.
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Similar markets
Yes • 50%
No • 50%
Yes • 50%
No • 50%
Yes • 50%
No • 50%
Merger blocked • 25%
Merger proceeds • 25%
Settlement reached • 25%
Other • 25%
Yes • 50%
No • 50%
FTC wins • 25%
Tapestry wins • 25%
Settlement reached • 25%
Case dismissed • 25%
Appeal successful, acquisition proceeds • 25%
Appeal unsuccessful, acquisition remains blocked • 25%
Settlement reached, acquisition terms modified • 25%
Appeal withdrawn or abandoned • 25%
Sell Stuart Weitzman • 25%
Acquire a new brand • 25%
Merge with another company • 25%
No major action • 25%