Tapestry, Inc. Announces Termination of Merger Agreement With Capri Holdings Limited
Reaffirms Commitment to Driving Accelerated Organic Growth and Shareholder Value
Announces Additional $2 Billion Share Repurchase Authorization, Including a Planned Accelerated Share Repurchase Program
Executes Plans to Redeem Acquisition-Related Debt
Tapestry, Inc. (NYSE:TPR), a house of iconic accessories and lifestyle brands consisting of Coach, Kate Spade, and Stuart Weitzman, today announced that it reached an agreement with Capri Holdings Limited (NYSE:CPRI) to terminate the merger agreement between the parties.
Capri and Tapestry mutually agreed that terminating the merger agreement at this time is in the best interest of both companies, as the outcome of the legal proces
