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Tapestry-Capri merger blocked as US judge grants preliminary injunction

( October 24, 2024, 20:54 GMT | Official Statement) -- MLex Summary: The US District Court for the Southern District of New York granted the US Federal Trade Commission's motion for preliminary injunction today, blocking Tapestry's $8.5 billion acquisition of Capri Holdings. US District Judge Jennifer L. Rochon found that the FTC satisfactorily demonstrated "that it is likely to succeed in convincing a federal court of appeals that the transaction violates Section 7” of the Clayton Act. Rochon said that after hearing seven days of testimony, she would preliminarily enjoin the merger pending the completion of the FTC’s in-house administrative proceeding.See attached document....

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