Tapestry shares are trading higher following a report indicating the FTC is preparing to sue to block the company's takeover of Capri.
Portfolio Pulse from Benzinga Newsdesk
Tapestry shares are trading higher after reports surfaced that the FTC is preparing to sue to block Tapestry's acquisition of Capri. This news suggests potential regulatory hurdles for the merger, impacting investor sentiment.
April 17, 2024 | 11:17 am
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Tapestry's stock is trading higher following reports of the FTC's intention to block its takeover of Capri, indicating investor optimism despite potential regulatory challenges.
The rise in Tapestry's shares despite the FTC's potential lawsuit suggests investors might be optimistic about the company's prospects or believe the regulatory hurdles can be overcome. This news directly impacts Tapestry as it is at the center of the regulatory scrutiny, affecting investor sentiment and potentially its future growth strategy.
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IMPORTANCE 80
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