Volatility surged back into the market on Wednesday, with the CBOE Volatility Index (VIX) spiking 9% after hitting nearly three-year lows last week, fueled by fresh upticks in Treasury bond yields.
This unusual antitrust challenge against a high-end fashion merger could potentially set a new standard for luxury deal regulation, according to several antitrust lawyers.
Doubts cloud Tapestry Inc's (NYSE:TPR) $8.5 billion merger with Capri Holdings Ltd (NYSE:CPRI), as traders question antitrust approval despite CEO's optimism. Luxury giants Coach, Kate Spade, and Michael Kors are at stake in the deal, attracting regulatory scrutiny. Capri's stock drop of 11% signals market skepticism, contrasting Tapestry's $57-per-share bid.