(Reuters) -The U.S. Federal Trade Commission (FTC) has sent requests to Tapestry and Michael Kors owner Capri Holdings for more information on their planned $8.5 billion deal, the Coach parent said on Monday.
Tapestry agreed to buy Capri in August, creating a U.S. fashion powerhouse to challenge larger European rivals for a bigger share of the global luxury market.
The companies expect to respond “promptly” to the FTC’s request and aim to close the deal in 2024.
(Reporting by Manas Mishra in Bengaluru; Editing by Shounak Dasgupta and Krishna Chandra Eluri)
