Capri Holdings and Tapestry have agreed to terminate their multi-billion US dollar merger, following a ruling from a US judge that blocked the deal. Despite initial approval from the EU and Japan, the Federal Trade Commission (FTC) raised concerns about potential anti-competitive effects in the US, leading to a lawsuit and the eventual blockage. Both companies stated the decision was made in their best interests, as it became unlikely they would meet the necessary regulatory approvals by the merger deadline of February 10, 2025.