FTC may try to block yet another business merger [FOX Business Network]
Tapestry, Inc. (TPR)
Last tapestry, inc. earnings: 4/30 06:45 am
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tapestry.com/investors
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Source: FOX Business Network
Federal antitrust regulators are planning to file a lawsuit to block Coach parent Tapestry's $8.5 billion bid to buy Michael Kors owner Capri, according to a report by New York Times Dealbook The Federal Trade Commission (FTC) is expected to hold a meeting next week to discuss the case, which could lead the commissioners to hold a vote on filing the lawsuit — though the report noted that the agency may decide not to sue. The proposed merger would bring together top luxury brands including Tapestry's Kate Spade and Stuart Weitzman with Capri's Jimmy Choo and Versace. The companies received clearance from regulators in the European Union and Japan on Monday. If it proceeds, the merger would create a U.S. fashion powerhouse that could be more competitive with larger European rivals like Louis Vuitton parent company LVMH and Gucci owner Kering as the industry deals with a slowdown in spending on luxury fashion. The FTC asked the two companies for more information about the merger
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News
- Week in Review: Can fashion put the eco back into economics? [Yahoo! Finance]Yahoo! Finance
- Style and Sustainability in Every Stitch at Tapestry [Yahoo! Finance]Yahoo! Finance
- Tapestry Fights On Two Legal Battlefronts Against The FTC And Gap/Old Navy [Forbes]Forbes
- Tapestry, Inc. to Host FY24 Third Quarter Earnings CallBusiness Wire
- The FTC Lays Out Its Case Against Tapestry's $8.5B Buyout of Capri [Yahoo! Finance]Yahoo! Finance
TPR
Earnings
- 2/8/24 - Miss
TPR
Sec Filings
- 4/22/24 - Form 8-K
- 4/15/24 - Form 4
- 4/15/24 - Form 8-K
- TPR's page on the SEC website