Tapestry shares are trading higher following a report alleging that a judge blocked the company's proposed acquisition of Capri. The company issued a statement on the ruling saying it intends to appeal the decision.
Portfolio Pulse from Benzinga Newsdesk
Tapestry shares are trading higher following a report that a judge blocked its proposed acquisition of Capri. Tapestry plans to appeal the decision.
October 25, 2024 | 11:46 am
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Tapestry shares are trading higher after a judge blocked its acquisition of Capri. The company plans to appeal the decision.
The news of the judge blocking the acquisition could have been perceived negatively, but the market's reaction suggests that investors are optimistic about Tapestry's appeal or see the block as a positive development for Tapestry's stock. The increase in share price indicates a positive short-term impact.
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