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Merger Arbitrage Mondays – Massive Spike in M&A With 14 New Deals

  • August 14, 2023

Key Highlights

  • Big spike in M&A activity with 14 new deals announced last week
  • Capri Holdings Limited (CPRI) to be acquired by Tapestry (TPR) for $8.5 billion
  • After turning down the Cleveland-Cliffs offer, U.S. Steel (X) is now investigating potential strategic alternatives.

Out of the 14 new deals announced last week, seven were multi-billion dollar deals and five were potential deals in the works.

 

Capri Holdings is a multinational luxury fashion holding company known for its portfolio of high-end brands. It was founded in 1981 by American fashion designer Michael Kors, who initially launched his own eponymous brand. The company’s name was changed to Capri Holdings in 2018 to reflect its broader scope after acquiring additional luxury fashion labels.

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