Tapestry’s deal is dead. What’s next for the company and the M&A landscape?

1 month ago 18

Tapestry’s attempt to acquire Capri is officially dead.

Tapestry, which owns Coach, Kate Spade and Stuart Weitzman, announced its intention to acquire Capri, the owner of brands like Michael Kors, Versace and Jimmy Choo, in August of last year. But a legal challenge from the FTC, led by chair Lina Khan, put up barriers to the acquisition. This month, the acquisition was officially blocked according to a court ruling, and on Thursday, Tapestry formally announced the termination of the deal.

Announced alongside the end of the deal is a $2 billion share repurchase program financed by a combination of cash on hand and future debt.

Continue reading this article on glossy.co. Sign up for Glossy newsletters to get the latest on the business of beauty, fashion and pop culture.

Article From: www.glossy.co

Read Entire Article

Note:

We invite you to explore our website, engage with our content, and become part of our community. Thank you for trusting us as your go-to destination for news that matters.

Certain articles, images, or other media on this website may be sourced from external contributors, agencies, or organizations. In such cases, we make every effort to provide proper attribution, acknowledging the original source of the content.

If you believe that your copyrighted work has been used on our site in a way that constitutes copyright infringement, please contact us promptly. We are committed to addressing and rectifying any such instances

To remove this article:
Removal Request