US watchdog sues to block Tapestry-Capri $8.5bn merger, citing monopoly concerns

The US Federal Trade Commission (FTC) has announced its intention to sue to block Tapestry's $8.5 billion deal to acquire Capri, the parent company of Michael Kors. This proposed merger would result in a global company with approximately 33,000 employees. The FTC's concern is that the acquisition could potentially lead to reduced wages and employee benefits. This action comes at a time when several US lawmakers have called for increased scrutiny of large-scale deals that may increase prices for consumers.