Capri-Tapestry Merger Blocked. What Should Investors Do With the Stocks?

Is Capri stock a buy after its share price plunged? In a stunning turn of events, a judge ruled in favor of the U.S. government and blocked the proposed merger between handbag and fashion rivals Capri Holdings (CPRI -4.25%) and Tapestry (TPR -2.85%). The Federal Trade Commission (FTC) sued to block the merger in April after Tapestry agreed to buy Capri last year, arguing that the combination would hurt consumers and leave less affordable handbag options. The FTC lawsuit was widely viewed as a long shot, as ...