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Judge blocks Coach owner Tapestry’s proposed acquisition of Michael Kors owner Capri

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Judge blocks Coach owner Tapestry’s proposed acquisition of Michael Kors owner Capri

Pedestrians walk past a Coach store and a Michael Kors store.

Scott Olson | Getty Images

A federal judge blocked Tapestry’s acquisition of Capri on Thursday following a brief trial last month in New York.

In her order, Judge Jennifer Rochon granted the Federal Trade Commission’s motion for a preliminary injuction to block the proposed merger, which would marry America’s two largest luxury houses.

Tapestry’s stock surged 14% after the order was made public while Capri’s plunged more than 52%.

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#Judge #blocks #Coach #owner #Tapestrys #proposed #acquisition #Michael #Kors #owner #Capri

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