EPISODE · Aug 10, 2023 · 2 MIN
$CPRI Stock Surge on $TPR's 8.5 Billion Deal
from Ainvest Pulse · host Cashcow
Versace owner Capri Holdings' stock surged over 50% after agreeing to an $8.5 billion acquisition by Tapestry, parent company of Coach. Capri shareholders will receive $57 per share in cash, a 65% premium to the previous day's close. The merger enhances the combined firm's ability to compete with luxury giants LVMH and Kering. While Capri owns brands like Michael Kors and Jimmy Choo, the deal's completion is expected in 2024, with the potential for Capri to pay a $240 million termination fee if certain conditions aren't met.
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$CPRI Stock Surge on $TPR's 8.5 Billion Deal
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