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BRIEF-Tapestry Pauses Integration Plans On Capri Deal
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BRIEF-Tapestry Pauses Integration Plans On Capri Deal
Nov 9, 2024 12:12 PM

Nov 7 (Reuters) - Tapestry Inc ( TPR ):

* TAPESTRY CEO REITERATES U.S. JUDGE'S DECISION TO BLOCK

CAPRI

DEAL 'INCORRECT ON LAW AND FACTS' - CONF CALL

* TAPESTRY CEO - HAVE APPEALED DECISION AS PER OBLIGATIONS

UNDER

THE MERGER AGREEMENT - CONF CALL

* TAPESTRY CFO - HAVE APPEALED U.S. JUDGE DECISION AND HAVE

PAUSED

ALL INTEGRATION PLANNING EFFORTS ON CAPRI DEAL GIVEN PRESENT

DYNAMICS

* TAPESTRY CFO - NOT REAFFIRMING FINANCIAL ASPECTS OF THE

CAPRI

DEAL AT THIS TIME

* TAPESTRY CEO - DO NOT EXPECT ANY MERGERS AND ACQUISITIONS

IN THE

NEAR TERM IF CAPRI DEAL DOES NOT CLOSE

* TAPESTRY CEO - FOCUSED ON EXISTING BUSINESS AND HAVE

COMPETITVE

ADVANTAGES

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