Current location:opinions >>
FTC sues to block Tapestry's $8.5 billion acquisition of Capri
opinions87People have gathered around
IntroductionNEW YORK (AP) — The Federal Trade Commission sued to block Tapestry, Inc.’s $8.5 billion acquisition ...
NEW YORK (AP) — The Federal Trade Commission sued to block Tapestry, Inc.’s $8.5 billion acquisition of Capri Holdings Ltd., saying that the deal would eliminate direct head-to-head competition between the fashion companies’ brands like Coach and Michael Kors in the so-called affordable luxury handbag arena.
The agency also said Monday that the deal, a nnounced in August 2023, threatens to eliminate the incentive for the two companies to vie for employees and could depress employees’ wages and workplace benefits. The combined Tapestry and Capri would employ roughly 33,000 people worldwide, the agency said.
“With the goal to become a serial acquirer, Tapestry seeks to acquire Capri to further entrench its stronghold in the fashion industry,” said Henry Liu, director of the FTC’s bureau of competition in a statement.
The move is the latest by the FTC to take a more aggressive position on antitrust issues.
Tags:
Reprint:Friends are welcome to share on the Internet, but please indicate the source of the article when reprinting it.“International Iterations news portal”。http://www.videocameralive.com/article-7e399670.html
Related articles
A candidate for Germany's key party was beaten up while campaigning for European elections
opinionsBERLIN (AP) — A candidate for Chancellor Olaf Scholz’s center-left party in next month’s election fo ...
【opinions】
Read moreLondon's Cavalry chaos: Moment
opinionsChaos erupted in central London today as five horses threw off their riders and ran amok after being ...
【opinions】
Read moreChina launches 3
opinionsJIUQUAN SATELLITE LAUNCH CENTER, China (AP) — China launched a three-member crew to its orbiting spa ...
【opinions】
Read more
Popular articles
- Home favorite Jannik Sinner withdraws from the Italian Open because of hip injury
- Russia fines actress who hosted 'almost naked' party over her calls for peace
- Controversy over spiked antifascist speech dominates Italy's Liberation Day anniversary
- Scottish National Party ends 3
- Rita Ora stuns in a sweeping orange coat and matching co
- The Hollywood daughters raiding their mums' wardrobes... so who do you think wore it better?
Latest articles
I celebrate World Naked Gardening Day every day
DEAR JANE: My best friend invited me on vacation with her
NFL to open academy in Australia to identify and develop young prospects
German lawmakers assail far
Fans react with horror to Britney Spears' meltdown amid new fears for her safety
Russia fines actress who hosted 'almost naked' party over her calls for peace
LINKS
- Feature: 1 year on, cross
- Xi greets Sharif on election as Pakistani PM
- China sends representative to continue searching for Ukraine crisis settlement
- More outbound flights expected for Spring Festival
- Xi takes part in deliberation at annual national legislative session
- Continued evolution of law improves governing capacity
- France guarantees right of abortion
- Envoy hails new height of China
- China emphasizes neighborly cooperation in diplomacy: NPC spokesman
- What to expect at two sessions in pivotal year