US court blocks Tapestry's $8.5 bn acquisition of rival Capri; win for FTC

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The ruling follows approval of the merger by regulators in Japan and the European Union earlier this year.(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.

The FTC argued at an eight-day trial in New York that the merger would eliminate fierce head-to-head competition between the top two US handbag makers and create a massive company with the power to unfairly raise prices.

Henry Liu, director of the FTC's Bureau of Competition, called the decision "a victory not only for the FTC, but also for consumers across the country seeking access to quality handbags at affordable prices.

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Article Details

Category: BusinessFinance

Markets: IndiaChinaJapan

Topics: Luxury goods Antitrust trials Antitrust Tapestry FTC Federal trade commission Capri

Source Website Secure: Yes (HTTPS)

News Sentiment: Positive

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-25 @ 09:20:52 (3 days ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 649 words

Reading Time: 4 minutes read

Sentences: 25 lines

Sentence Length: 26 words per sentence (average)

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Copyright Owner: © Business Standard

News ID: 23233615

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