US FTC Sues to Halt Tapestry’s Capri Acquisition, Citing Concerns Over Handbag Market Dominance
The US Federal Trade Commission (FTC) announced its legal action to block Tapestry’s proposed $8.5 billion acquisition of Capri Holdings, the parent company of Michael Kors, citing potential harm to competition in the handbag market. This move by the FTC reflects a broader trend of increased scrutiny by US lawmakers over multi-billion dollar deals that…