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Coach parent Tapestry pulls $8.5 billion bid for Capri after FTC roadblock By Reuters

Coach parent Tapestry pulls $8.5 billion bid for Capri after FTC roadblock By Reuters

(Reuters) -Tapestry is terminating its $8.5 billion deal to buy Michael Kors owner Capri following a legal hurdle, the companies said on Thursday, ending their effort to create a U.S. luxury giant to compete with major European players.