Capri tumbles 46% after US court blocks $8.5 billion merger with Tapestry
The prospective $8.5 billion merger with Coach parent Tapestry was rejected by a U.S. judge on Friday, which harmed Capri’s chances of overcoming obstacles at the luxury brand. As a result, Capri shares fell by about 46%. Last year, Tapestry agreed to purchase Capri to establish a luxury conglomerate in the United States that could…