Consumer
Coach-Versace Union Goes to Court Against Biden’s Antitrust Cop
- Antitrust enforcer asks judge to block Tapestry-Capri deal
- Merger arbitragers are following Manhattan mini-trial closely
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The CEO of Capri Holdings Ltd. told a federal judge he’s hopeful the company’s planned $8.5 billion acquisition by Tapestry Inc., which US antitrust enforcers are trying to block, will revitalize its flagship Michael Kors brand and deliver returns for investors.
John Idol was the first witness in a make-or-break hearing in Manhattan to determine whether the fashion industry deal will go forward or be unwound by President Joe Biden’s Federal Trade Commission, which calls it a threat to competition and is in court seeking an order to freeze it.