FTC may try to block yet another business merger
FTC may try to block yet another business mergerFederal antitrust regulators are planning to file a lawsuit to block Coach parent Tapestry’s $8.5 billion bid to buy Michael Kors owner Capri, according to a report by New York Times Dealbook.The Federal Trade Commission (FTC) is expected to hold a meeting next week to discuss the case, which could lead the commissioners to hold a vote on filing the lawsuit — though the report noted that the agency may decide not to sue.The proposed merger would bring together top luxury brands including Tapestry’s Kate Spade and Stuart Weitzman with Capri’s Jimmy Choo and Versace. The companies received clearance from regulators in the European Union and Japan on Monday.If it proceeds, the merger would create a U.S. fashion powerhouse that could be more competitive with larger European rivals like Louis Vuitton parent company LVMH and Gucci owner Kering as the industry deals…