Tapestry Inc
TPR: XNYS (USA)
| Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
|---|---|---|---|
| <w | LOCK|b?&h | LOCK|n@tJ?%? |
Tapestry: Termination of Proposed Deal Puts Focus on Capital Returns; Shares Fully Valued
Narrow-moat Tapestry’s proposed acquisition of no-moat Capri has been called off. The merger was opposed by the US Federal Trade Commission on antitrust grounds, and it was highly unlikely to ever close after a federal judge refused to lift the agency’s block (see our notes of Oct. 25 and Nov. 7).
