A US judge has blocked the $8.5bn deal between Tapestry and Capri that would have put some of America’s largest fashion brands under one roof, in a big win for antitrust regulators.
Judge Jennifer Rochon’s ruling on Thursday freezes the deal — which would have combined brands including Michael Kors, Kate Spade and Coach — while the Federal Trade Commission conducts its own internal proceedings.
Capri’s stock plunged after the ruling, falling more than 50 per cent in after-market trading. Tapestry’s stock rose 12 per cent after hours.
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