The planned $8.5 billion acquisition of Capri Holdings Ltd. by Tapestry Inc. has been blocked by a US District Judge due to concerns about anticompetitive behavior.
The judge's ruling puts a halt to the merger, allowing the US Federal Trade Commission (FTC) to conduct its own internal trial on the matter. The outcome of this trial, which may take several months, will determine whether Tapestry can proceed with its acquisition of Capri Holdings Ltd., the company behind luxury brands like Versace and Michael Kors.