Capri Holdings Ltd
CPRI: XNYS (USA)
| Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
|---|---|---|---|
| LOCK|.t | LOCK|%? | LOCK|NpL#rJd |
Capri: Many Challenges Follow Failed Takeover, but We Think Undervaluation Is Extreme
No-moat Capri’s planned sale to narrow-moat Tapestry for $57 per share has ended. The deal was opposed by the US Federal Trade Commission on antitrust grounds, and it was unlikely to close after a recent ruling (see our notes of Oct. 25 and Nov. 8). No break-up fee will be paid, but Tapestry will reimburse Capri about $45 million for costs.
