The proposed merger between Tapestry and Capri, two major players in the luxury handbag market, has received regulatory approvals from both the European Commission on April 15 and Japan. However, the deal, valued at $57 per share for Capri, still faces potential challenges in the United States where the Federal Trade Commission (FTC), led by Chair Lina Khan, is reportedly considering a lawsuit over competition concerns. The FTC's decision is now the only remaining antitrust regulatory approval needed for the merger to proceed.
Tapestry merger with Versace owner Capri gets EU, Japan approval https://t.co/2CJfv3Oeu2 https://t.co/cZXC9AhoTS
$CPRI / $TPR merger receives approval by Japan and EU, but FTC (Lina Khan) may file suit The only outstanding antitrust regulatory approval is the United States
Tapestri receives EU approval for $CPRI acquisition, leaving only FTC approval as the last remaining roadblock to the $57 takeout.
TAPESTRY SAYS EC APPROVED CAPRI TRANSACTION ON APRIL 15 $CPRI $TPR
Tapestry/Capri: FTC Leaning Toward Suit, Focusing on Handbag Makers' Close Competition $CPRI $TPR h/t @HanqingC & @jbliss1987 https://t.co/aRQ3NYtRJy
Today's M&A notes $WIRE to be acquired by Prysmian for $290.00, 11.1% premium, $4.2 billion $SNPO to be acquired by $REZI for $10.75, 32.1% premium, $1.4 billion $BLKB received unsolicited proposal from Clearlake Capital at $80.00, 77.7% premium https://t.co/SYsFN2E9pb