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Coach owner Tapestry calls off Capri bid on regulatory blocks
Coach owner Tapestry calls off Capri bid on regulatory blocks
Economy
by  AFP

Fashion group Tapestry said Thursday that it was dropping its $8.5 billion bid for Capri, the owner of luxury brands including Michael Kors and Versace, following a successful legal challenge by US regulators. "Capri and Tapestry mutually agreed that terminating the merger agreement was in the best interests of both companies," Capri said in a statement.