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

FTC lawsuit to block Coach parent from buying Michael Kors owner says deal would deprive consumers of competition

The US Federal Trade Commission said on Monday it was suing to block Coach parent Tapestry's $8.5bn deal to buy Michael Kors owner Capri, saying it would eliminate competition.

This comes at a time when several US lawmakers have sought increased scrutiny from the FTC of several multi-billion dollar deals that might risk higher prices and affect consumers.