Consumer Discretionary Company Tapestry Announces Acquisition of Capri Holdings
Portfolio Pulse from Benzinga Insights
Tapestry (NYSE:TPR) has announced its acquisition of Capri Holdings (NYSE:CPRI) for $8.50 billion in cash, expected to be completed by 2024. Tapestry, which owns brands like Coach, Kate Spade, and Stuart Weitzman, will acquire Capri Holdings, the parent company of brands like Michael Kors, Versace, and Jimmy Choo.
August 10, 2023 | 3:10 pm
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POSITIVE IMPACT
Capri Holdings' shareholders could potentially benefit from the cash acquisition by Tapestry.
The cash acquisition could potentially benefit Capri Holdings' shareholders, which could positively impact its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Tapestry's acquisition of Capri Holdings could potentially expand its portfolio and increase its market share.
The acquisition could potentially expand Tapestry's portfolio and increase its market share, which could positively impact its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100