Negative
21Serious
Neutral
Optimistic
Positive
- Total News Sources
- 8
- Left
- 4
- Center
- 0
- Right
- 2
- Unrated
- 2
- Last Updated
- 9 min ago
- Bias Distribution
- 50% Left
Tapestry Inc. and Capri Holdings have terminated their $8.5 billion merger after facing regulatory obstacles from the Federal Trade Commission, which argued the merger would stifle competition in the luxury handbag market. A U.S. judge's decision to block the merger prompted both companies to mutually agree to end the deal, citing the unlikelihood of gaining regulatory approval before the deal's expiration. In response, Tapestry is shifting its focus to organic growth, launching a $2 billion share repurchase program funded through cash and new debt, while maintaining its commitment to dividends and setting a positive outlook for fiscal year 2025. Capri Holdings will also concentrate on future growth strategies for its brands, including Versace and Michael Kors. The termination of the merger highlights the challenges luxury brands face with regulatory scrutiny in large-scale acquisitions.
- Total News Sources
- 8
- Left
- 4
- Center
- 0
- Right
- 2
- Unrated
- 2
- Last Updated
- 9 min ago
- Bias Distribution
- 50% Left
Negative
21Serious
Neutral
Optimistic
Positive
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