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Coach-parent Tapestry has terminated its deal to acquire Michael Kors-owner Capri Holdings, the two companies announced Thursday morning.
The decision comes less than a month after a federal judge blocked the acquisition, which the US Federal Trade Commission had sued to stop, arguing that it would unfairly eliminate competition in the market for affordable handbags.
While Tapestry initially had indicated it would appeal the ruling, work on merging the two companies had ground to a halt. On…
