A U.S. judge blocked the pending $8.5B merger of Tapestry (TPR) and Capri (CPRI) in a victory for the U.S. Federal Trade Commission, which argued that the merger would eliminate head-to-head competition between the top two U.S. handbag makers and create a massive company with the power to unfairly raise prices for consumers. The ruling in effect permanently blocks the proposed deal, Tapestry’s lawyers said in court documents, according to Reuters.
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