NYT Dealbook Reports That U.S. FTC Is Preparing to Sue to Block $8.5 Billion Takeover of Capri by Tapestry

The U.S. Federal Trade Commission (FTC) is preparing to sue to block Coach parent Tapestry’s $8.5 billion deal to buy Michael Kors owner Capri, NYT Dealbook reported on Wednesday, citing people familiar with the matter.

The deal, which would bring together top luxury labels such as Tapestry’s Kate Spade, Stuart Weitzman and Capri’s Jimmy Choo and Versace, received regulatory clearance from the European Union and Japan on Monday.

The FTC’s five commissioners are expected to meet this week to discuss the case, a move that could precede a formal vote on whether to file a lawsuit, according to the report.

Read the source article at Yahoo Finance