Reported about 1 month ago
Capri Holdings, the parent company of Michael Kors and Jimmy Choo, experienced a 47% drop in stock price after a US judge halted its proposed $8.5 billion acquisition by Tapestry, citing antitrust concerns. The merger was expected to combine six major fashion brands, but the ruling by Judge Jennifer Rochon emphasized the potential reduction in competition in the accessible-luxury handbag market. Tapestry plans to appeal the decision as the FTC continues its proceedings.
Source: YAHOO