Why Michael Kors Parent Capri's Shares Are Shooting Higher Today
Portfolio Pulse from Shivani Kumaresan
Capri Holdings Ltd (CPRI), the owner of Michael Kors, Jimmy Choo, and Versace, is reportedly in talks to be acquired by Tapestry Inc (TPR), the owner of Coach. The deal, which has been under discussion for months, could be announced soon and is expected to be valued in the high single-digit billions. Capri's shares jumped by 33.55% in premarket trading following the news.
August 10, 2023 | 10:12 am
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POSITIVE IMPACT
Capri Holdings is in talks to be acquired by Tapestry Inc. The news led to a 33.55% increase in Capri's share price.
The news of the potential acquisition by Tapestry Inc has led to a significant increase in Capri's share price. If the deal goes through, it could further boost the company's stock.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Tapestry Inc is reportedly in talks to acquire Capri Holdings. The deal could be valued in the high single-digit billions.
The potential acquisition of Capri Holdings could significantly expand Tapestry's portfolio and market presence. This could have a positive impact on Tapestry's stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90