A federal court sided with the FTC to block Tapestry acquiring Capri Holdings, in a move Tapestry claims is "incorrect on the law and the facts." It plans to appeal.

A U.S. judge blocked the pending $8.5 billion merger of U.S. handbag and accessories maker Tapestry and Capri on Thursday, a victory for the Federal Trade Commission that is a likely death blow for the deal.

Capri had more to gain from the acquisition, investors say. Meanwhile, a slowing market for luxury goods slowly made the deal less attractive for Tapestry investors.

The $8.5 billion deal is off for now. Capri stock plunged 45 per cent following the verdict as investors grow wary.

Capri shares slumped nearly 46% on Friday after a U.S. judge blocked its pending $8.5 billion merger with Coach parent Tapestry TPR.N, hurting the Michael Kors owner's chances of navigating challenges at the luxury brand.

Shares of Capri Holdings plunged after a US judge blocked its pending $8.5 billion merger with Coach owner Tapestry.

The owners of Coach and Michael Kors plan to appeal the decision, but experts say it’s unlikely the deal will go through.

A federal judge issued a ruling blocking the pending merger of luxury fashion brands Tapestry and Capri on the grounds it would undercut competition in the handbag market.

In today's video, I will discuss the Tapestry and Capri Holdings (NYSE: CPRI) merger that is currently being blocked. Check out the short video to learn more, consider subscribing, and click the special offer link below.

Capri, already struggling, could look to sell Versace and even go private to right itself, according to analysts.