Handbag Wars: FTC vs. Tapestry – Merger Arbitrage Mondays

Capri Holdings Limited (CPRI): $35.72

Market Cap: $4.21 B

Deal Size: $8.5 B

It’s been over a year since Tapestry (TPR), the parent company of Coach, announced its merger with Capri, which would bring together a portfolio of renowned brands—Versace, Jimmy Choo, Michael Kors, Coach, Kate Spade, and Stuart Weitzman. Four months ago, however, the U.S. Federal Trade Commission (FTC) filed a lawsuit to block this transaction.

In our May Special Situations Newsletter, we discussed the FTC’s complaint against the merger:

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