Capri shares slumped nearly 46% on Friday after a U.S. judge blocked its pending $8.5 billion merger with Coach parent Tapestry, hurting the Michael Kors owner’s chances of navigating challenges at the luxury brand.
Should the deal fall through, “Capri could potentially seek another suitor”, said Dana Telsey of Telsey Advisory Group. “The attractiveness of the acquisition began to moderate”, pressured by Capri’s weak results and an extension of the deal timeline following the FTC challenge, Dana said.
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