FTC sues to block $8.5B merger that would unite luxury brands Coach and Michael Kors
Capri (CPRI) New York Post·2024-04-23 06:21
The Federal Trade Commission said Monday it was suing to block Coach parent Tapestry’s $8.5 billion deal to buy Michael Kors owner Capri, saying it would eliminate competition.This comes at a time when several US lawmakers have sought increased scrutiny from the FTC of several multi-billion dollar deals that might risk higher prices and affect consumers.US antitrust enforcers had also come out with new merger guidelines in December, in a bid to encourage fair, open and competitive markets. 3 Coach parent ...