Tapestry And Capri Call Off $8.5B Deal Amid Legal Hurdles
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 14 2024
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Source: Benzinga
Merger Termination: Tapestry, Inc. and Capri Holdings Limited have mutually agreed to terminate their merger agreement due to legal uncertainties, with Tapestry set to redeem $6.1 billion in senior notes and reimburse Capri $45 million for transaction-related expenses.
Financial Outlook: Tapestry's Board approved a $2 billion share repurchase program and reaffirmed its FY25 revenue guidance of over $6.75 billion, while maintaining an annual dividend of $1.40 per share.
Analyst Views on RSPD
Wall Street analysts forecast RSPD stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for RSPD is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 59.010
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Current: 59.010
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
