Tapestry Confirms End of Merger Deal With Capri Holdings

Tapestry, Inc. (TPR) , the parent company of Coach, Kate Spade and Stuart Weitzman, announced today that it has mutually agreed with Capri Holdings Limited to end its planned $8.5 billion merger. Following the announcement, Tapestry’s stock surged 12.8%, reaching $57.81, while Capri Holdings saw a modest decline. Capri stock has dropped nearly 60% in 2024.On Thursday, Tapestry disclosed that legal challenges surrounding its proposed August 2023 merger are uncertain and unlikely to be resolved before the Feb ...