US Court Blocks Tapestry’s $8.5 Billion Acquisition of Rival Capri

A US judge blocked the pending $8.5 billion merger of US handbag and accessories maker Tapestry and Capri on Thursday, a victory for the US Federal Trade Commission in an industry where merger challenges are rare.

The FTC argued at an eight-day trial in New York that the merger would eliminate fierce head-to-head competition between the top two US handbag makers and create a massive company with the power to unfairly raise prices for consumers.

Tapestry fought those claims, saying the…