Tapestry's stock pops and Capri falls 6% as fashion giants scrap merger deal
Portfolio Pulse from
Tapestry Inc. has terminated its $8.5 billion merger agreement with Capri Holdings Inc., resulting in a 6.8% increase in Tapestry's stock and a 4% decrease in Capri's stock.
November 14, 2024 | 12:45 pm
News sentiment analysis
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NEGATIVE IMPACT
Capri Holdings Inc.'s stock fell by 4% following the termination of its merger agreement with Tapestry Inc.
The cancellation of the merger is seen negatively for Capri Holdings, resulting in a decline in its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Tapestry Inc.'s stock rose by 6.8% after announcing the termination of its $8.5 billion merger agreement with Capri Holdings.
The termination of the merger agreement is perceived positively by investors, leading to a significant increase in Tapestry's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100