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Merger Termination

All articles tagged with #merger termination

business1 year ago•2 min saved

Tapestry and Capri Scrap $8.5B Merger Due to Regulatory Challenges

Tapestry, Inc. and Capri Holdings Limited have mutually agreed to terminate their $8.5 billion merger due to legal uncertainties and a blocked acquisition ruling. Tapestry will redeem $6.1 billion in senior notes and reimburse Capri $45 million for transaction expenses. The company also announced a $2 billion share repurchase program and plans to maintain its annual dividend. Capri Holdings will focus on growth strategies, including reducing the Michael Kors store fleet. Tapestry's shares rose 8.25% premarket, while Capri's fell 5.60%.

via Benzinga|

#business #capri-holdings #legal-hurdles

business2 years ago•2 min saved

Sony Cancels $10 Billion Merger Deal with Zee India

Sony Group has terminated a $10 billion merger with Zee Entertainment's Indian operations due to an impasse over leadership of the combined entity, despite Zee's commitment to the deal. The termination comes amid intense competition in the Indian market, including the impending merger between Disney's Indian businesses and Reliance Industries' media assets. The collapse of the deal could negatively impact both parties, as they sought to scale up in the face of digital disruption and potential increased competition.

via Reuters|

#business #competition #indian-market