Loading...
Market
Will Tapestry complete its $6.1 billion bond repurchase by June 30, 2025?
3
Resolution / Starting Odds
Yes • 50%
No • 50%
Tapestry's official financial statements or press releases
Story
Capri and Tapestry Terminate $8.5 Billion Merger; Tapestry Shares Up 7.5%, Capri Down 6%
Nov 14, 2024, 12:36 PM
Capri Holdings and Tapestry have mutually agreed to terminate their proposed $8.5 billion merger following a U.S. court ruling that blocked the deal due to antitrust concerns raised by the Federal Trade Commission (FTC). The decision comes amid significant market reactions, with Tapestry's shares rising approximately 7.5% and Capri's stock declining by around 6% following the announcement. Tapestry plans to repurchase $6.1 billion in bonds that were issued to finance the now-abandoned acquisition. Capri's CEO, John Idol, stated that the company will refocus on growth for its luxury brands, which include Versace and Jimmy Choo. The termination of the merger reflects ongoing regulatory scrutiny in the luxury goods market.
View original story
Similar markets
New acquisition attempt • 25%
Expansion of existing brands • 25%
Cost-cutting measures • 25%
Other strategic move • 25%
Acquisition approved • 25%
Acquisition blocked permanently • 25%
Acquisition modified and approved • 25%
Acquisition withdrawn • 25%
Yes • 50%
No • 50%
Sell Stuart Weitzman • 25%
Acquire a new brand • 25%
Merge with another company • 25%
No major action • 25%
Yes • 50%
No • 50%
Yes • 50%
No • 50%
Yes • 50%
No • 50%
Yes • 50%
No • 50%
