Capri and Tapestry abandon plans to merge, citing regulatory hurdles

Group 1 - The merger between Capri and Tapestry has been called off due to a block by the Federal Trade Commission, with both companies agreeing that ending the merger was in their best interests [1] - The merger agreement was unlikely to receive regulatory approval before its expiration in February [1] - Capri's CEO, John Idol, expressed confidence in the long-term growth potential of Capri and its three luxury houses following the termination of the merger [2]