Capri Holdings shares are trading lower following a report alleging that a judge blocked the company from being acquired by Tapestry. The company intends to jointly file Tapestry a notice of appeal regarding the court's decision.
Portfolio Pulse from Benzinga Newsdesk
Capri Holdings shares are trading lower after a judge blocked its acquisition by Tapestry. Capri plans to appeal the court's decision.
October 25, 2024 | 11:58 am
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Capri Holdings shares are down following a court decision blocking its acquisition by Tapestry. The company plans to appeal.
The blocking of the acquisition by a judge is a significant legal setback for Capri Holdings, leading to a negative market reaction. The company's intention to appeal suggests ongoing legal uncertainty, which typically pressures stock prices downward.
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